Bread and biscuits maker Mrs Bectors Food Specialities will launch its initial public offer (IPO) on 16 December 2020. The company is looking to raise Rs 540.54 crore through this issue. The issue will remain open for three days till 18 December 2020.
The initial public offer would comprise of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) by existing shareholders worth Rs 500 crore. The company has set a price band of Rs 286-288 apiece. One can apply for Mrs Bectors Food Specialities IPO with a lot size of 50 shares for Rs 14,400.
According to the company, the proceeds from fresh issuance will be put to finance the project cost in expanding the Rajpura Manufacturing Facility by establishing a new production line for biscuits.
Mrs Bectors Food Specialities sells bakery products under the name 'English Oven' and biscuit and other cookies under the name 'Cremica'. In the grey market, the unlisted shares of Mrs. Bectors commanded a high premium of over 45% more than the issue price.
SBI Capital Markets, ICICI Securities and IIFL Securities are the book running lead managers, while Link Intime India is the registrar to the issue.
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