Mrs Bectors Food, Sansera Engineering get Sebi's go ahead for IPO

Biscuit-maker Mrs Bectors Food Specialities and auto-components maker Sansera Engineering have received markets regulator Sebi's go ahead to launch initial share-sale offers.

Mrs Bectors Food and Sansera Engineering obtained "observations" from the Securities and Exchange Board of India (Sebi) on November 9 and November 12 respectively, latest update with the markets watchdog showed.

The two firms had filed their draft papers with the regulator in August seeking its go ahead to float initial public offers (IPO).

According to its draft papers, Mrs Bectors Food's IPO will see sale of shares to the tune of Rs 800 crore by existing shareholders and promoters.

Linus, Mabel, GW Confectionary Pte Ltd, GW Crown Pte Ltd and Anoop Bector will be offering stocks in the initial share-sale.

"Listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders," the company said.

IDFC Bank, Edelweiss Financial Services and IIFL Holdings will manage the company's IPO.

Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and bread under the flagship brand 'Mrs Bector's Cremica' and the 'English Oven', respectively.

Sansera Engineering's IPO will see a sale of up to 1,72,44,328 equity shares by existing shareholders as well as promoters.

"The listing of equity shares will enhance our company's brand name and visibility and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India," Sansera Engineering said.

The Bengaluru-based firm is an engineering-led integrated manufacturer of complex and high-quality precision components for the automotive and aerospace sectors.

ICICI Securities, Credit Suisse Securities, IIFL Holdings, Nomura Financial Advisory and Securities and BNP Paribas wil manage the company's IPO.