The share allocation in Mrs Bectors Food ‘IPO is likely to be finalized tomorrow, which got a huge response. Link Intime India Private Ltd is the registrar for Mrs Bectors Food’s IPO and will handle the allocation and reimbursement. Investors can check the status of the share allocation on the Link Intime India Private Ltd website via their PAN numbers. The share allocation can also be viewed on the BSE website.
Indicative listing schedule for Mrs Bectors Food: According to brokerage agencies, ASBA account redemptions / unlocks are likely to take place on December 23, share credit to DP account on December 24, and trading on December 28.
The initial public offering of Ms. Bectors Food Specialties was subscribed a whopping 198 times in one of the best responses from investors in recent years. In fact, the initial sale of Mrs Bectors Food Specialties shares was oversubscribed within hours of opening for subscription.
Some analysts expect strong price gains after Burger King’s strong debut, which more than doubled on the first day of trading. “We believe there is a good potential for trading gains given the lower valuations compared to other listed pairs. Also considering the attractive valuation and strong future growth prospects on packaged cookies, we recommend a ‘Subscription’ rating on this IPO. long-term”. says Shikher Jain, analyst at Anand Rathi.
The retail portion was subscribed 29.28 times, while qualified institutional buyers (QIBs) in the category 176.85 times and non-institutional investors 620.86 times. The offer included a new number of ₹Rs 40.54 million and an offer to sell of up to ₹500 crore. The price band for the sale of shares was set at ₹286-288 each. Before the IPO, Ms. Bectors Food raised ₹Rs 162 crore from anchor investors.
SBI Capital Markets, ICICI Securities and IIFL Securities are the managers of the offering.
The company sells biscuits under the ‘Cremica’ brand and manufactures and markets a wide range of biscuits such as biscuits, creams, crackers, digestive biscuits and a variety of premium breads under the ‘English oven’ brand.
Mrs Bectors Food is also a bread roll supplier for Quick Service Restaurant (QSR) chains such as McDonald’s, KFC, Burger King and Carl’s Jr, among others.
Ms. Bectors Food’s income from operations ₹690 crore in FY18 a ₹Rs 762 crore in fiscal year 2020. In the first half of this fiscal year (FY21), its income had increased to ₹430.99 crore.
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