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The allotment status of Mrs Bectors Food's Rs 540 crore initial public offer (IPO) is likely to be announced on Tuesday. The issue, which ran between December 15 to December 17, was the most successful IPO of 2020 so far, having received 198 times subscription as investors eye solid listing gains following the success of previous IPOs. Mrs Bectors IPO beat issues by Mazagon Dock Shipbuilders and Burger King that were subscribed 157 times each. The IPO generated bids worth more than Rs 40,000 crore. The high net worth individual (HNI) portion was subscribed 620 times, the qualified institutional buyer (QIB) portion 177 times and the retail category witnessed nearly 30 times subscription. The shares of the company are expected to list on December 28.
Mrs Bectors IPO subscribed 197 times on final day of bidding; grey market premium soars further financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
India: Mrs Bectors Food IPO subscribed 11.4 times on second day IPO Premium The ₹541 crore initial public offer (IPO) by Mrs Bectors Food Specialities attracted a bumper response from investors with the issue subscribed 11.40 times on the second day of bidding on Wednesday. Continue reading this story with a subscription to DealStreetAsia. Contact us for corporate subscriptions at subs@dealstreetasia.com. Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday REGISTER stories_left_placeholder You have one free story left this month. You have stories_left_placeholder free stories left this month.
Bectors IPO - Day 2 subscription - Angel Broking Posted On: Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd Mrs. Bector IPO was subscribed by 11.4 times on the second day of issue. Retail portion was most subscribed by 16.4 times..Non institutional and QIB was subscribed 8.7 times and 4.7 times respectively. We expect the IPO to be subscribed maniy times as the investor interest is quite strong for this IPO. Due to over subscription in such a large number, investors won't get the desired lot in the issue. Company is one of the leading brands in biscuits and bakery businesses in North India. It has established presence in the retail and institutional bakery business. Company also has wide spread and established sales and distribution network. Although, the outbreak of Covid-19 has an impact on the smooth running of the business, from which gradually things are coming back to normal. Company results were better than the industry in the first half of the fiscal 2021. Company peers such as Britannia Industries, Nestle India, Prataap Snacks and DFM Foods are trading at trailing PE of 50.2, 85.6, 57.1 and 97.6 respectively. On the other hand, the company is priced at trailing PE of 27.9. Given the significant discount compared to listed peers there is comfort on the valuation. We are positive on the long term growth prospects of the industry and the company, and hence recommended to "Subscribe" to the issue for long term as well as for listing gains.
The initial public offering (IPO) of Mrs Bectors Food Specialities garnered 198 times subscription and generated bids worth more than Rs 40,000 crore. For IPOs of more than Rs 200 crore in size, this is the highest-ever subscription. Previously, only three tiny issues have garnered more than 200 times subscription. The huge oversubscription for the IPO of Mrs Bectors—a biscuit and bread manufacturer—comes close on heels of the successful debut of Burger King India, whose stock tripled on listing. Eyeing similar listing gains, wealthy investors have mounted bets worth Rs 33,800 crore on the Mrs Bector IPO. The so-called high networth individual (HNI) portion saw 620 times more demand than shares on offer. The qualified institutional buyer (QIB) portion was subscribed 177 times and retail category saw nearly 30 times subscription.
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NEW DELHI: Nifty touched its all-time high on Wednesday forming a 'Hanging man' pattern on the daily chart. Amit Trivedi of Yes Securities says that the appearance of such a pattern at current levels could attract some profit taking. However, follow-up action needs to be closely watched. According to Ashis Biswas, Head of Technical, CapitalVia Global Research, the market's short-term technical condition shows an upward shift in the prevailing market range, and it is likely to range between 13,550 and 13,780. "Indian market is effortlessly rallying to record highs on a daily basis, tracking firm global markets. Increasing prospects of the US stimulus measures, hopes of an effective vaccine and a conclusive Fed meeting to announce a positive policy are lifting market sentiments across the globe. In the domestic market, all sectors witnessed good momentum with realty leading the rally in hopes of a revival in demand," said Vinod Nair, Head of Research at Geojit Financial Services.
Mrs Bectors Food Specialities IPO Day 2: Issue Subscribed 4.2 Times, Retail Portion Booked 8 Times moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
The IPO by Mrs Bectors Food Specialities is set to hit the capital market on Tuesday. Most of the brokerages have given a ‘subscribe’ call to the Rs 541 crore public offer. The IPO will be sold in the Rs 286-288 price band and would comprise an offer for sale (OFS) of Rs 500 crore and a fresh issue of Rs 40.5 crore. Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. Analysts said the company's financials have improved; net debt has declined and free cash flows have turned positive. The fact that the demand outlook for the biscuit and buns maker looks decent and the IPO is priced at a steep discount to listed peers leaves enough on the table, they said.
Mrs. Bectors Food Specialities Ltd - IPO Note - Angel Broking Posted On: 2020-12-15 02:07:56 (Time Zone: Arizona, USA) Mrs. Bector Food Specialities are one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India. Company manufacture and market a range of the biscuits such as cookies, creams, crackers, digestives and glucose under our flagship brand 'Mrs. Bector's Cremica'. Company also manufacture and market bakery products in savoury and sweet categories which include breads, buns, pizza bases and cakes under their brand 'English Oven'. Positives: (1) One of the leading brands in biscuits and bakery businesses in the North India (2) Leading exporter of biscuits (3) Established presence in retail and institutional bakery business (4) Modern and automated production processes with a focus on quality control (5) Wide spread and established sales and distribution network.