Street signs: Mrs Bector's GMP, Gland Pharma on FPI red-flag list and more

Mrs Bector's GMP at 60%

After Burger King India, another blockbuster IPO seems to be on the cards. Shares of Mrs Bector's Food Specialities are commanding a premium of over 60 per cent in the grey market. The company is a premium biscuit maker and supplier of buns to restaurant chains, such as McDonald’s. Mrs Bector’s Rs 540-crore IPO will remain open for subscription between Tuesday and Thursday. Given the high GMP, the issue may see huge demand.

Burger King HNI breakeven at 50%

High-networth individual (HNI) bets on the Burger King India IPO will turn profitable only if the stock debuts with a gain of at least 50 per cent over the issue price. The HNI portion of the IPO was subscribed 357x. After factoring in the interest cost, the cost of acquisition of one share for wealthy investors works out to Rs 90, as against the IPO price of Rs 60. If grey market activity is to be believed, despite the high acquisition price, HNIs will make money. The trends in the unofficial market suggest the stock could even touch Rs 100 when it lists on Monday.

Gland Pharma on FPI red-flag list 

Hyderabad-based Gland Pharma has been added to the so-called red-flag list for foreign portfolio investors (FPIs). According to NSDL website, the aggregate FPI holding in the stock is at 71.4 per cent, as against the permissible limit of 74 per cent. A red flag is activated whenever the foreign investment is less than 3 per cent of the permissible limit. Shares of Gland Pharma are up 50 per cent since its listing on November 20. Retail and HNI investors had given the company’s Rs 6,450-crore IPO a miss. The company is promoted by Chinese conglomerate Fosun International, which owns a 58.36 per cent stake.