Mrs Bectors' IPO comprises a fresh issue of ₹40.50 crore and an offer for sale of ₹500 crore by Linus Pvt Ltd., Mabel Pvt Ltd, GW Crown Pte Ltd and GW confectionary Pte Ltd , aggregating to ₹541 crore. The issue closes today
Until 2pm, on the last day of the three-day offering, the IPO had attracted bids for over 1.78 billion shares compared with an issue size of 13.24 million shares. At the upper end of the price band of the issue, at ₹288, the IPO has drawn bids worth roughly ₹51,227.20 crore.
The qualified institutional investor category was subscribed 63 times, receiving bids for 236.92 million shares, the non institutional category comprising high net worth individuals was subscribed 502 times. Demand from retail individual investors, whose investments can not exceed ₹2 lakh in an IPO, stood at 25.12 times.
The company is offering shares in the price band of ₹286-288 apiece.
Mrs Bectors' IPO comprises a fresh issue of ₹40.50 crore and an offer for sale of ₹500 crore by Linus Pvt Ltd., Mabel Pvt Ltd, GW Crown Pte Ltd and GW confectionary Pte Ltd , aggregating to ₹541 crore. The issue closes today.
Promoters owned a 52.39% stake in Mrs. Bectors before the issue, and post issue it will be at 48.87%. The price band for selling shares has been fixed at ₹286-288 apiece
The proceeds from the fresh issue will be used for financing the expansion of the company's Rajpura manufacturing facility in Punjab by establishing a new production line for biscuits, according to the draft red herring prospectus.