This is the fifteenth IPO in 2020 after SBI Card, Rossari Biotech, Mindspace Business Parks REIT, Route Mobile, Happiest Minds Technologies, Chemcon Speciality Chemicals, Angel Broking, UTI AMC, Mazagon Dock Shipbuilders, Likhitha Infrastructure, Computer Age Management Services, Equitas Small Finance Bank, Gland Pharma and Burger King India.
Mrs. Bectors is one of the leading makersof premium and mid-premium biscuits and premium bakery products in Punjab, Himachal Pradesh, Jammu and Kashmir and Ladakh. The company manufactures and markets cookies, creams, crackers, digestives and glucose under its flagship brand ‘Mrs. Bector’s Cremica’, according to its red herring prospectus.
It also manufactures and markets savoury and sweet products, including breads, buns, pizza bases and cakes, under ‘English Oven’—one of the largest selling brands in the premium bakery segment in Delhi-National Capital Region, Mumbai and Bengaluru.
The company is the largest supplier of buns to quick-service restaurant chains, including Burger King India, McDonalds, and Yum! Restaurants, which runs KFC and Pizza Hut, in the country. It manufactures Oreo and Chocobakes cookies on contract for Mondelez India Foods Pvt
The company, in consultation with merchant bankers, has fixed a price band of Rs 286-288 per share for its public issue.
In the financial year FY18 to FY20, company registered a revenue growth at a CAGR of 5 percent, but profit declined at a CAGR of 8 percent in same period. However, its financial performance started improving in FY21 with profit at Rs 39 crore on revenue of Rs 431 crore in first half of FY21.
After today's listing of BK on NSE/BSE the share price is 137inr and the ipo was about 60inr per share, this will show a great movement in Mrs.bectors ipo and opening. If not in short term but Mrs. Bector will give profit in long-term.
The listing premium was better-than-expected given the stellar subscription and consistent strong revenue growth as well as store additions over the past more than five years of operations.
The stock opened at Rs 115.35 , against issue price of Rs 60 on the BSE, while on the National Stock Exchange, shares made a debut at Rs 112.50, a 87.50 percent premium over IPO price.
At 10:03 hours IST, the stock was trading at Rs 112, up 86.67 percent with volume of 36,62,957 shares on the BSE, while it was quoting at Rs 112.40, up 87.33 percent with volumes of 4,77,80,140 equity shares on the National Stock Exchange.
Ahead of IPO subscription, Mrs Bectors Food shares were seen trading with Rs 200-202 premium over the issue price of Rs 288 apiece in the grey market today. The shares were trading at Rs 409 apiece, implying a premium of 70.13 per cent over the issue price.