Mrs Bectors IPO: HUGE HIT! Massive response from investors - Another Burger King moment for stock markets?
After Burger King India, this is the second Initial Public Offer (IPO) this month to have received oversubscription in a few hours of opening for public subscription.
Mrs Bectors Food Specialities IPO is a huge hit among investors! Getting a massive investor response, Mrs Bectors Food Specialities initial public offer was subscribed a whopping 198 times on the last day of subscription on Thursday. The initial share sale of Mrs Bectors Food Specialities got oversubscribed within a few hours of opening for subscription on Tuesday.
After Burger King India, this is the second Initial Public Offer (IPO) this month to have received oversubscription in a few hours of opening for public subscription.
Mrs Bectors Food's IPO received bids for 2,62,10,42,200 shares against 1,32,36,211 shares on offer, as per data available with the NSE.
Qualified Institutional Buyers (QIBs) category was subscribed 176.85 times, non institutional investors 620.86 times and retail individual investors (RIIs) 29.28 times.
The offer comprises a fresh issue of Rs 40.54 crore and an offer-for-sale of up to Rs 500 crore.
The price band for the share sale has been fixed at Rs 286-288 apiece.
On Monday, Mrs Bectors Food raised Rs 162 crore from anchor investors.
SBI Capital Markets, ICICI Securities and IIFL Securities are the managers to the offer.
Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and breads under the flagship brand 'Mrs Bector's Cremica' and the 'English Oven', respectively.
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