Ms. Bectors Food IPO was fully subscribed to in just 2 hours: 7 pieces of important information – business news

Mrs Bectors Food Specialties Ltd opened its three-day initial public offering of Rs.541 billion (IPO) on Tuesday in response to strong demand and was oversubscribed in just two hours. From 12:30 p.m., the IPO was subscribed 1.57 times, the retail segment almost three times. The first sale of shares for public subscription will be completed on December 17th. Ms. Bectors Food, who filed preliminary IPO filings in October 2020, received the nod of the Securities and Exchange Board of India (Sebi) in November.

The IPO of Mrs Bectors Food, a bread roll supplier for QSR (Quick-Service Restaurant) chains such as McDonald’s, KFC, Burger King and Carl’s Jr., listed on Monday.

Here are 7 things you should know about Mrs Bectors Food’s IPO:

1. Ms. Bectors Food’s IPO price range has been set at £ 286 to £ 288 per share with a par of £ 10 each, the company said in a statement.

2. The minimum bid is 50 shares and a multiple of 50 shares.

3. The initial public offering will include the re-issue of Rs 40.54 billion worth of shares and an offer by existing shareholders to sell Rs 500 billion in order to gain the advantage of being listed on the stock exchanges.

4. The final allotment base will be finalized by December 22nd and the ASBA Fund will be refunded / released by December 23rd according to the preliminary schedule for Ms. Bector Food’s IPO. Shares are expected to be credited to the DP account by December 24th and listing by December 28th.

5. The funds raised through the IPO will be used to expand the company’s Rajpura production unit and establish a new production line.

6. Since the organizer does not sell equity, he will continue to hold over 51% of the shares after the IPO. After the IPO, the share of project sponsors will decrease from 52.39% to 51.13%.

7. SBI Capital Markets, ICICI Securities, and IIFL Securities are managing Ms. Bectors Food’s initial public offering. The shares are listed on BSE and NSE. Linus Private Limited, Mabel Private Limited, GW Confectionery Pte Ltd and GW Crown Pte Ltd will offer shares on the first share sale.

(With agency entries)