Biscuit maker Mrs Bectors Food Specialities has filed draft papers with markets regulator Sebi to raise Rs 550 crore through an initial share-sale.
The IPO comprises fresh issuance of shares worth Rs 50 crore and offer of sale to the tune of Rs 500 crore by existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
Linus Private Limited, Mabel Private Limited , GW Confectionery Pte Ltd and GW Crown Pte Ltd will be offering stocks in the initial share-sale.
Net proceeds of the issue would be utilised for financing the project cost towards expansion of the Rajpura manufacturing facility by establishing a new production line for biscuits and for general corporate purpose.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Wed, October 21 2020. 01:17 IST
read the full story about Biscuit maker Mrs Bectors Food files Rs 550-crore IPO papers with Sebi
#theheadlines #breakingnews #headlinenews #newstoday #latestnews #aajtak #ndtv #timesofindia #indiannews