Biscuit maker Mrs Bectors Food files Rs 550-crore IPO papers with Sebi

Biscuit maker Mrs Bectors Food Specialities has filed draft papers with markets regulator Sebi to raise Rs 550 crore through an initial share-sale. 

The IPO comprises fresh issuance of shares worth Rs 50 crore and offer of sale to the tune of Rs 500 crore by existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi. 

Linus Private Limited, Mabel Private Limited , GW Confectionery Pte Ltd and GW Crown Pte Ltd will be offering stocks in the initial share-sale. 

Net proceeds of the issue would be utilised for financing the project cost towards expansion of the Rajpura manufacturing facility by establishing a new production line for biscuits and for general corporate purpose.