NEW DELHI: Shares of Ms. Bectors Food Specialties Thursday made a remarkable market debut and it closed at a premium of 107 percent to its issue price of Rs 288.
The stock opened at Rs 501, reflecting a 73.95 percent jump from the issue price on the BSE. During the day, it rose to Rs 601.20, up 108.75 percent. It finally closed at 595.55 rupees, a gain of 106.78 percent.
On the NSE, it was up 105.72 percent to close at 592.50 rupees.
The company’s market valuation was Rs 3,498.65 crore on the BSE.
In terms of volume traded, 37.81 lakh shares were traded on the BSE and more than 3.70 million units on the NSE during the day.
Reflecting the massive response from investors, the initial public offering of Bectors Food Specialties was subscribed a whopping 198 times earlier this month.
The price band for the sale of shares was Rs 286-288 each.
Mrs Bectors Food manufactures and markets a range of products such as cookies, breads and buns. It markets a wide variety of biscuits and breads under the flagship brand ‘Mrs Bector’s Creamy‘and the’ English Oven ‘, respectively.
Earlier this month, the shares of Burger King India it had risen nearly 131 percent on its market debut.
.
