 "Mrs Bectors' Rs 540-cr IPO to open for subscription on December 15")
Mrs Bectors Food Specialities’ Rs 540-crore initial public offering (IPO) will open for subscription on December 15, and the price band for this is Rs 286-288 per share. The issue comprises of Rs 40 crore of fresh capital raise and Rs 500 crore of secondary share sale by four existing shareholders.
At the top end, the company will have market capitalisation of nearly Rs 1,700 crore on a post-diluted basis. The issue proceeds will be used by Mrs Bectors to set up a new production line for biscuits.
The company manufactures and markets cookies, creams, crackers, digestives and glucose under its brand Mrs Bector’s Cremica. They also manufacture and market bakery products in savoury and sweet categories under the brand English Oven.
Mrs Bectors is the largest supplier of buns in India to QSR chains such as Burger King India, Connaught Plaza restaurants, Hardcastle restaurants, and Yum! Restaurants.
SBI Capital Markets, ICICI Securities and IIFL Securities are the book running lead managers to the offer.
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