Mrs Bectors Food Specialities, a premium biscuit-maker and leading supplier of buns to fast-food chains such as Burger King and McDonald's, will launch its Rs 550 crore initial public offering (IPO) on December 16. The primary market offering will be open for three days from December 16 to December 18, 2020. The shares are likely to be listed on the bourses on December 29.
The move by Mrs Bectors Food comes close on the heels of the recently launched Burger King IPO, which was oversubscribed a jaw-dropping 157 times.
Mrs Bectors Food's is making its second attempt at tapping the primary markets for its funding requirements. It had secured SEBI's nod for an IPO in 2018, but chose to defer its plans due to market conditions at that time.
Mrs Bectors Food will use the IPO funds to expand its manufacturing unit at Rajpura in Punjab and for general corporate purposes.
Incorporated at Ludhiana in 1995, Mrs. Bectors Food Specialities manufactures and markets a range of biscuits (cookies, creams, crackers, digestive, etc.) under its flagship brand 'Mrs Bectors Cremica' and bakery products (bread, buns, pizza bases, cakes, etc.) under the brand 'English Oven'.
Mr Anoop Bector is the promoter of Mrs Bectors Food Specialities.
SBI Capital, ICICI Securities and IIFL Capital are the lead managers to the public issue of Mrs Bectors Food, while Link Intime India is the registrar to the issue.