Excelsior Correspondent
JAMMU, Dec 17: MrsBectors Food Specialties initial public offer of Rs 540.54 cr attracted more than 198 times subscription on the IPO closing day. The initial public offer opened on December 15 and closed today.
The IPO is backed to robust demand from all categories of investors. Estimated demand at 5 pm is 198.02 times. The retail portion attracted 29.33 times subscription, non-institutional investors attracted 620.86 time subscription, qualified body attracted 176.85 time subscription and employees quota attracted 45.46 times subscription.
The price band has been fixed at Rs 286-288 per share for the initial public offering and comprises fresh issuance of shared worth Rs 40.54 cr and offer for sale to the tune of Rs 500 cr by existing shareholders.
MrsBectors Food manufacturers and markets a range of products such as biscuits, breads and buns. It markets a variety of biscuits and bread under the flagship brand “MrsBector’s Cremica” and the “English Oven” respectively.
SBI Capital Markets, ICICI Securities and IIFL Securities are managing the company’s Initial Public Offer (IPO). The equity shares will be listed on BSE and NSE.
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