Shares of Mrs Bectors Food Specialties on Thursday listed with a 73 per cent gain on the BSE at ₹501, against the issue price of ₹288. The stock is currently (10.15 am) ruling at ₹588.05, up 104 per cent, after hitting a high of ₹601.20 early on Thursday.
Over 16 lakh shares changed hands on the BSE and 1.5 crore shares on the NSE.
IPO fund-raise
The bakery products maker had raised ₹540.54 crore via its public issue, which saw a strong response from all categories of investors. The IPO was oversubscribed by 198 times on the last day of subscription.
The offer received bids for 262 crore equity shares against 1.32 crore on offer. The portion set aside for non-institutional investors was subscribed 620.85 times and qualified institutional buyers, 76.85 times. Retail investors’ and employees’ reserved portions were subscribed 29.3 and 45.45 times, respectively.
The IPO consisted of a fresh issue of ₹40.54 crore and an offer for sale of ₹500 crore by selling shareholders.
Mrs Bectors Food Specialties, which is a premium biscuit and bakery firm focussed on North India, with a 4.5 per cent market share, will utilise the IPO procees to expand its Rajpura manufacturing facility, establishing a new production line for biscuits.