Mrs Bectors' IPO subscribed 199 times, becomes highest ever in last three years

The ₹541 crore initial public offering (IPO) of Mrs Bectors Food Specialities, a premium bakery and biscuit brand was subscribed 199 times on the final day of the bidding, according to data available with stock exchanges.

The qualified institutional investor category was subscribed 178.08 times, the non institutional category comprising high net worth individuals was subscribed 625.20 times. Demand from retail individual investors, whose investments can not exceed ₹2 lakh in an IPO, stood at 29.53 times.

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The promoters owned a 52.39% stake in Mrs. Bectors before the issue, and post issue it will be at 48.87%. The price band for selling shares has been fixed at ₹286-288 apiece.

The proceeds from the fresh issue will be used for financing the expansion of the company's Rajpura manufacturing facility in Punjab by establishing a new production line for biscuits, according to the draft red herring prospectus.