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Mrs.Bectors Food Specialities IPO is a book build issue of ₹540.54 crores. The issue is a combination of fresh issue of 0.14 crore shares aggregating to ₹40.57 crores and offer for sale of 1.74 crore shares aggregating to ₹499.97 crores.
Mrs.Bectors Food Specialities IPO bidding started from Dec 15, 2020 and ended on Dec 17, 2020. The allotment for Mrs.Bectors Food Specialities IPO was finalized on Dec 22, 2020. The shares got listed on BSE, NSE on Dec 24, 2020.
Mrs.Bectors Food Specialities IPO price band is set at ₹288.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹14,300 (50 shares). The lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,01,600, and for bNII, it is 70 lots (3,500 shares), amounting to ₹10,08,000.
The issue includes a reservation of up to 18,315 shares for employees offered at a discount of ₹15.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Mrs.Bectors Food Specialities IPO RHP for detailed Information.
| IPO Date | December 15, 2020 to December 17, 2020 |
| Listing Date | December 24, 2020 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹286 to ₹288 per share |
| Issue Price Final | ₹288 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,87,69,701 shares (aggregating up to ₹540.54 Cr) |
| Fresh Issue | 14,08,592 shares (aggregating up to ₹40.57 Cr) |
| Offer for Sale | 1,73,61,109 shares of ₹10 (aggregating up to ₹499.97 Cr) |
| Employee Discount | ₹15.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,73,37,922 shares |
| Share Holding Post Issue | 5,87,46,514 shares |
Mrs. Bectors Food IPO offers total 1,87,69,701 shares. Out of which 93,75,692 (49.95%) allocated to QIB, 37,50,277 (19.98%) allocated to QIB, 28,12,708 (14.99%) allocated to NII, 65,62,986 (34.97%) allocated to RII and 56,25,415 (29.97%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 93,75,692 (49.95%) | NA |
| − Anchor Investor Shares Offered | 56,25,415 (29.97%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 37,50,277 (19.98%) | NA |
| NII (HNI) Shares Offered | 28,12,708 (14.99%) | NA |
| Retail Shares Offered | 65,62,986 (34.97%) | 1,31,259 |
| Employee Shares Offered | 18,315 (0.10%) | NA |
| Total Shares Offered | 1,87,69,701 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Mrs.Bectors Food Specialities IPO opens on December 15, 2020, and closes on December 17, 2020.
| IPO Open Date | Tue, Dec 15, 2020 |
| IPO Close Date | Thu, Dec 17, 2020 |
| Tentative Allotment | Tue, Dec 22, 2020 |
| Initiation of Refunds | Wed, Dec 23, 2020 |
| Credit of Shares to Demat | Wed, Dec 23, 2020 |
| Tentative Listing Date | Thu, Dec 24, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 17, 2020 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,400 |
| Retail (Max) | 13 | 650 | ₹1,87,200 |
| S-HNI (Min) | 14 | 700 | ₹2,01,600 |
| S-HNI (Max) | 69 | 3,450 | ₹9,93,600 |
| B-HNI (Min) | 70 | 3,500 | ₹10,08,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1995, Mrs. Bectors Food Specialities Ltd is one of the leading companies in the premium bakery segment and premium and mid-premium biscuit segment in North India. The company's product portfolio mainly consists of two categories of products; Biscuits (cookies, creams, crackers, digestive, etc.) and Bakery products (bread, buns, pizza bases, cakes, etc.).
Mrs. Bectors manufactures and sells biscuits under its brand name "Mrs. Bector's Cremica" whereas bakery products are manufactured under the brand name of "English Oven" and offered in the premium market segments such as Delhi NCR, Mumbai, and Bengaluru. As of June 30, 2020, its bakery segment has a total of 96 products and the Biscuits segment has a total of 384 items.
All of its products are manufactured in-house across 6 strategically located manufacturing units in 5 different cities i.e. Maharashtra, Karnataka, UP, Himachal Pradesh, and Punjab. The company has a very strong distribution network of 154 super-stockists and 644 distributors supplying products through 458,000 retail outlets and 3,594 preferred outlets. It sells its products to 23 states in India and also exports its products under its own brand name and third-party private labels to 64 countries all over the world.
Competitive Strengths
| Particulars | For the year/period ended (Rs in million) | |||
|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 6,087.26 | 5,657.15 | 5,770.44 | 5,110.59 |
| Total Revenue | 4,385.55 | 7,649.76 | 7,860.29 | 6,957.55 |
| Profit After Tax | 388.83 | 304.03 | 331.50 | 358.93 |
The Company Mrs.Bectors Food Specialities IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Financing the project cost towards Rajpura Expansion Project | 40.54 |
[Dilip Davda] After posting static performance for FY 18, FY19 and FY20, super performance for H1-FY21 surprises and raises concern. Sustainability of such performance amidst stiff competition from giants and the local players in the segment with organized and unorganized players remains a major worry. Based on FY20 earnings, the issue is priced around 56 P/E while on the basis of FY21 H1 annualized data, P/E is around 22. Thus if we exclude H1 FY 21 super performance, the issue appears fully priced. Since BFSL is in the top few players in the FMCG segment, investors may consider an investment with a medium to long term perspective. Read detail review...
| Listing Date | December 24, 2020 |
| BSE Script Code | 543253 |
| NSE Symbol | BECTORFOOD |
| ISIN | INE495P01012 |
| Final Issue Price | ₹288 per share |
| BSE Listing Group | B |
Mrs.Bectors Food Specialities Ltd.
Theing Road,
Phillaur,
Jalandhar, Punjab, 144410
Phone: +91 182-6225418
Email: compliance@cremica.in
Website: http://www.cremica.in
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: bector.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Mrs.Bectors Food Specialities IPO is a main-board IPO of 1,87,69,701 equity shares of the face value of ₹10 aggregating up to ₹540.54 Crores. The issue is priced at ₹288 per share. The minimum order quantity is 50.
The IPO opens on December 15, 2020, and closes on December 17, 2020.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mrs.Bectors Food Specialities IPO using UPI as a payment gateway. Zerodha customers can apply in Mrs.Bectors Food Specialities IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mrs.Bectors Food Specialities IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mrs.Bectors Food Specialities IPO opens on December 15, 2020 and closes on December 17, 2020.
Mrs.Bectors Food Specialities IPO lot size is 50, and the minimum amount required for application is ₹14,400.
You can apply in Mrs.Bectors Food Specialities IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mrs.Bectors Food Specialities IPO will be done on Tuesday, December 22, 2020, and the allotted shares will be credited to your demat account by Wednesday, December 23, 2020. Check the Mrs.Bectors Food Specialities IPO allotment status.
The Mrs.Bectors Food Specialities IPO listing date is on Thursday, December 24, 2020.
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