Shares of Mrs Bectors Food Specialties Ltd. made a strong debut on Thursday at Rs 501, a premium of 73.9 per cent over the issue price of Rs 288. Earlier this month, the biscuits and bakery products making company has received a robust response on its Rs 541 crore initial public offer (IPO).
At 10:03 am, the company’s shares were trading at Rs 586.80 and touched an intra-day high of Rs 601.20. The scrip debuted at Rs 500 per share on NSE, a 73.6 per cent premium over the issue price.
Mrs Bectors Rs 541 crore IPO has raised up to Rs 540.54 crore within a price band of Rs 286-288 per share and was open for subscription from December 15-18. The issue has seen a robust response from investors by subscribing 198 times. The company will use a part of its proceeds from the stake sale for financing project cost towards Rajpura Expansion Project by establishing new production line for biscuits. The promoters of the company including Anoop Bector, his family and a family trust own 52.40 per cent stake in Mrs Bectors Food.