Mrs Bectors Food Specialities’ Rs 540-crore initial public offering (IPO) was subscribed 3.72x on Tuesday — the first day of the issue. The institutional investor portion was subscribed 0.02x, the wealthy investor portion 1.3x, the retail investor portion 6.8x and that reserved for employees 9.5x.
The company on Monday had allotted shares worth Rs 162 crore to anchor investors. The anchor investors include Goldman Sachs India, SBI Mutual Fund, and Bajaj Allianz Life Insurance.
Mrs Bectors have priced their IPO between Rs 286 and Rs 288 per share. The issue comprises Rs 40 crore of fresh fundraising and Rs 500 crore of a secondary share sale by four existing shareholders.
At the top end, the company will have a market capitalisation of nearly Rs 1,700 crore on a post-diluted basis.
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, December 16 2020. 00:25 IST
read the full story about Mrs Bectors Food IPO subscribed 3.72 times on first day of bidding
#theheadlines #breakingnews #headlinenews #newstoday #latestnews #aajtak #ndtv #timesofindia #indiannews