Retail investors are betting on the initial public offering of Mrs. Bectors Food Specialties Ltd., a McDonald’s supplier to KFC, on the first day of subscription.
The broadcast was subscribed 1.54 times at 12:27 p.m. on December 15, according to data compiled from Edelweiss Partners. The IPO will close on December 17.
Subscription details:
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Institutional investors: 0
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High net worth individuals: 25%
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Retail Investors: 2.96x
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Employee: 91%
The inaugural offering comprises a new share issue worth Rs 40.5 crore and a sell offer of Rs 500 crore from Linus Pvt., Mabel Pvt., GW Crown Pte. And pastry GW Pte. 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 Life Insurance, Franklin India Smaller Companies Fund and IDFC Emerging Business Fund, among others . A total of seven mutual funds were applied across a total of 23 schemes.
Ms. Bectors plans to use the proceeds to expand her cookie factory in Rajpura, Punjab.
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