At 11:30 am, shares on the BSE were trading at Rs 571.90, up 98.61 percent.
Mrs Bector’s Food Specialties made a spectacular debut on Thursday with an outstanding premium of more than 70 percent and soon to double. The biscuit maker’s shares were trading at 500 rupees, a premium of 73.61 versus the issue price of 288 rupees per share. The shares opened at Rs 501, up Rs 213 or 74 percent on the BSE and at Rs 500, a premium of 73.61 percent on the National Stock Exchange, compared with the issue price of Rs 288. The shares doubled soon after and At 11:30 am, the shares were trading at Rs 571.90, a 98.61 percent increase over BSE.
The IPO of Ms. Bectors Food Specialties worth 540.54 rupees (Crore Maiden Initial Public Offering, IPO) had the highest subscription among the IPOs in calendar year 2020. The IPO was subscribed 198.02 times, which was supported by a strong response from all investors. The primary market offering was open between December 15th and 17th and the shares were issued at a price of Rs. 286 to Rs. 288 per share.
The bakery maker’s first public offering consisted of a new issue of Rs 40.54 billion and an offer to sell Rs 500 billion by existing shareholders.
Mrs Bectors Food Specialties produces biscuits such as biscuits, creams, crackers, digestive products and glucose under the flagship brand ‘Mrs Bector’s Cremica’. Baked goods such as bread, rolls, pizza bases and cakes are also produced and marketed under the ‘English Oven’ brand.