Premium biscuit maker and leading supplier of buns to fast food chains such as Burger King India and McDonalds, Mrs Bectors Food Specialities will hit the capital market with a ₹540-crore initial public offering on December 15. It will be open for three days.
The price band of the Mrs Bectors Food issue has been fixed at ₹286-288 a share. Of the ₹540 crore issue size, ₹40 crore is from fresh issue of shares and ₹ 500 crore is through offer-for-sale of selling shareholders.
This IPO comes on the heels of the IPO of Burger Kings, which was oversubscribed 157 times.
On timing
Anoop Bector, Managing Director, Mrs Bectors Food, said that the timing of the IPO (Dec 15-17) was mainly to adhere to the commitment given by the company for partial exit opportunity to PE investors. He also said that proceeds from fresh issue of shares would go to fund the project cost towards expansion of the Rajpura manufacturing facility by establishing a new production line for biscuits and general corporate purposes.
Mrs Bectors Food, which is a strong player in biscuits and bakery, especially in North India, had in 2019-20 recorded biscuits exports revenue of ₹168 crore from 64 countries across 6 continents.