Biscuit maker Mrs Bectors ends Indian IPO at 199 times subscription a 2020 high
Photo: Rod Long / Unsplash Premium
Mrs Bectors Food Specialities Ltd, a premium biscuit and bakery firm in north India, became the most successful initial public offering (IPO) of 2020 attracting bids for nearly 199.41 times the number of shares on offer, stock exchange data showed.
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Mrs Bectors IPO may ride piggyback on Burger King’s stellar listing
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The price offer seems expensive considering Mrs Bectors s 1% market share, an analyst says
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As Mrs Bectors Food Specialities Ltd’s initial public offering (IPO) opens today, there are two main factors that work in its favour. One, the company operates in the packaged foods segment, which has lately benefited from the increase in stay-at-home consumption during the pandemic. Mrs Bectors operates in the premium and mid-premium range of biscuits and bakery segment in North India. Secondly, the issue comes at a time when the IPO market is performing well. On Monday, Burger King India Ltd saw a spectacular listing gain with the stock more than double from its issue price of ₹60.
Daily Market Commentary - Dec 10, 2020 - Bonanza Portfolio
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Mr Vishal Wagh, Research Head
On Thursday Indian equity markets made a negative start and are trading lower with the cut of over half percent on sell-off in the global peers. In the afternoon session, the Indian equity benchmarks continued to show a sluggish trend with Sensex and Nifty trading around 45,950 and 13,450 levels.
Asian equity benchmarks are trading mixed on Thursday, in line with the negative cues from Wall Street following a hefty sell-off in tech stocks. Slowing progress of US stimulus talks and a stalemate in Brexit negotiations. While optimism over covid vaccine limited losses in the market.