Mrs. Bectors manufactures and sells biscuits under its brand name “Mrs. Bector’s Cremica”. Mrs Bectors Food Specialities is the largest supplier of buns to quick service restaurant (QSR) chains such as McDonald’s, KFC, Burger King and Carl’s Jr. 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 IPO 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. One can apply for Mrs Bectors Food Specialities IPO with a lot size of 50 shares for Rs 14,400.
A discount of Rs 15 per equity share shall be offered to eligible employees bidding in the employee reservation portion.
SBI Capital Markets Limited, ICICI Securities Limited and IIFL Securities Limited are the Book Running Lead Managers to the offer.
The IPO comprises fresh issuance of shares worth Rs 50 crore and offer for sale to the tune of Rs 500 crore by existing shareholders, according to the draft red herring prospectus (DRHP) filed with SEBI.
The equity shares will be listed on BSE and NSE. Link Intime India Pvt Ltd is the registrar of the IPO.
- A leader in biscuits and bakery segments in North India.
- Well-diversified product portfolio.
- Major food certifications i.e. BRC, USFDA, and FSSC.
- Leading biscuits exporter to 64 countries.
- Modern production process.
- Strong sales and distribution network.
Mr. Anoop Bector is the promoter of the company.
|Particulars||For the year/period ended (Rs. in million)|
|Profit After Tax||158.72||304.03||331.50||358.93|
Objects of the Issue:
The funds raised through the Mrs. Bectors Food IPO are proposed to be utilized towards below objects:
- To finance the cost of Rajpura Expansion Project.
- To meet general corporate purposes.
Mrs. Bectors Food IPO Details:
|IPO Opening Date||Dec 15, 2020|
|IPO Closing Date||Dec 17, 2020|
|Issue Type||Book Built Issue IPO|
|Face Value||Rs 10 per equity share|
|IPO Price||Rs 286 to Rs 288 per equity share|
|Market Lot||50 Shares|
|Min Order Quantity||1 Lot (50 Shares)|
|Listing At||BSE, NSE|
|Issue Size||[.] Eq Shares of Rs 10|
(aggregating up to Rs 540.54 Cr)
|Fresh Issue||[.] Eq Shares of Rs 10|
(aggregating up to Rs 40.54 Cr)
|Offer for Sale||[.] Eq Shares of Rs 10|
(aggregating up to Rs 500.00 Cr)
Mrs. Bectors Food IPO Tentative Timetable:
The Mrs. Bectors Food IPO open date is Dec 15, 2020, and the close date is Dec 17, 2020. The issue may list on Dec 28, 2020.
|IPO Open Date||Dec 15, 2020|
|IPO Close Date||Dec 17, 2020|
|Basis of Allotment Date||Dec 22, 2020|
|Initiation of Refunds||Dec 23, 2020|
|Credit of Shares to Demat Account||Dec 24, 2020|
|IPO Listing Date||Dec 28, 2020|
Mrs. Bectors Food IPO Lot Size:
The Mrs. Bectors Food IPO market lot size is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or Rs 187,200).
|Minimum||1||50||286 – 288||Rs 14,400|
|Maximum||13||650||286 – 288||Rs 187,200|
Mrs. Bectors Food IPO Promoter Holding:
|Pre Issue Share Holding||52.45%|
|Post Issue Share Holding||–|
“However, we do not have any long term supply agreements with any of our QSR customers. The supply of our products to such QSR customers is typically contingent on demand arising on a day to day basis which is subject to fluctuation,” the red herring prospectus said.
Burger King India’s initial public offering, which closed earlier this month for subscription, drew bids of more than 150 times the shares on offer, signalling investors were upbeat about the country’s food service sector despite a slowdown inflicted by the COVID-19 pandemic.
Mrs. Bectors Food IPO Prospectus:Mrs. Bectors Food IPO DRHP
Company Contact Information:Mrs. Bectors Food Specialities Limited
Theing Road, Phillaur
Jalandhar – 144 410
Phone: +91 182-6225418
Mrs. Bectors Food IPO Registrar:Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270