The initial public offering of Mrs. Bectors Food Specialties Ltd. saw frenzied demand on the last day of the bidding, making it the most successful issuance of any Indian company in more than three years.
The inaugural bid was signed 199 times at the end of the bidding on Dec. 17, led by high net worth individuals, according to data compiled from Edelweiss Partners. That was the largest subscription number since Salasar Techno Engineering Ltd.’s IPO in July 2017, which was subscribed 273 times.
Subscription details
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Qualified Institutional Buyers: 178.08 times
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High net worth individuals: 625.2 times
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Retail Investors: 29.53x
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Employees: 45.8 times
The initial public offering comprises a new issue of shares worth Rs 40.5 million and an offer to sell of Rs 500 million from Linus Pvt., Mabel Pvt., GW Crown Pte. And GW Pte. Prices for the sale of shares have been set at Rs 286-288 each, according to their red herring booklet.
The company, according to the exchange’s filing, has raised Rs 162 crore by allocating 56,25,415 shares to anchor investors, including Goldman Sachs India Ltd., HDFC Standard Life Insurance Co., Franklin India Smaller Companies Fund and IDFC Emerging Business Fund , among others. . A total of seven mutual funds applied through a total of 23 schemes.
Ms. Bectors plans to use the proceeds to expand her cookie factory in Rajpura, Punjab.
