Mrs Bectors IPO listed at 74% premium

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Mrs Bectors IPO Subscription Status

The IPO of Mrs Bectors Foods, bakery products manufacturer subscribed 198 times on 17th December 2020, on the last day of the issue. The company raised Rs 162 crores from the anchor investors on 14th December 2020.

The issue received a huge response from the NII category, it got subscribed by 620 times on the final day. The offer got bids for 262.1 crore equity shares against the 1.32 crore equity shares offered excluding the anchor book as per the data available. It got listed on BSE and NSE on 24th December 2020 at 74% premium over its issue price of Rs 288.

Subscription Details

Mrs Bectors Food IPO Subscription Details (no. of times,x)    
ParticularsShares Offered15th Dec16th Dec17th Dec
QIB3,776,5020.024.67176.85
NII2,832,3781.378.67620.85
Retail6,608, 8816.8316.3629.32
Employees18,4509.4630.4545.45
Total13,236, 2113.7211.40198.02

Mrs Bectors Food Specialities Limited (hereinafter referred as ‘BFS’) is in the business of manufacturing biscuits such as cookies, creams, crackers, digestives and glucose. The products are sold with the brand of Mrs. Bector’s Cremica. BFS is also engaged in manufacturing of breads, buns, pizza bases and cakes under the brand English Oven. Customers include retail consumers in 26 states within India, reputed institutional customers with pan-India presence. BFS had exported biscuits under own brand as well as under third party private labels to 64 countries during FY20. Mrs Bectors IPO Subscription Status

Fresh issue proceeds of Rs 40.5 crore would be utilised to establish a new production line for biscuit segment.

BFS has made substantial investments of approx. Rs 258 crore in the last three fiscals to increase the capacities which has resulted in increased sales volumes.  However, the financial performance has been stable since the last three fiscals with rising trend seen in H1FY21. BFS’s capability to sustain this performance amidst the highly competitive food industry needs to be tracked. 

The GMP of Mrs Bectors Food IPO is showing a rising trend. GMP was Rs 220 on 15th December 2020 which increased from Rs 200 on 12th December 2020. Looking at the oversubscription levels and the market sentiments prevailing currently, listing gains cannot be ruled out. The issue would close tomorrow on 17th December 2020.

Important Dates of Mrs Bectors IPO and Lot details

Mrs Bectors Food IPO Lot 
Minimum Lot Size50 shares (1 lot)
Minimum AmountRs 14400
Maximum Lot size650 shares (13 lots)
Maximum AmountRs 187200
Mrs Bectors Food IPO Allotment and Listing
Basis of Allotment22nd Dec 2020
Refunds23rd Dec 2020
Credit to Demat Account24th Dec 2020
Listing Date28th Dec 2020

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CA Priyanka Choudhary Jain
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