InvestorQ : How was the response to the Bectors Foods IPO, which closed on 17 December, Thursday?
Dia Deshpande made post

How was the response to the Bectors Foods IPO, which closed on 17 December, Thursday?

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Sam Eswaran answered.
5 months ago
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Here are some of the key highlights of the Bectors Foods IPO which closed on 17 December, Thursday.

· The IPO of Mrs Bectors Foods closed on 17 December after garnering oversubscription to the tune of 199 times of the issue size.

· In a nutshell, this is the best oversubscription performance for the current year 2020, beating the 157 times oversubscription that Burger King got.

· To translate that into rupee terms, at the close of last day of the IPO, Bectors Foods got applications for shares worth Rs.75,486 crore against issue size of just Rs.379 crore.

· The institutional QIB portion of the IPO was subscribed 178 times while retail portion of investments under Rs.2 lakhs was subscribed 29.5 times.

· The classic trend barometer, the subscription from non-institutional HNI segment got oversubscribed by a full 625 times. This largely came from IPO funding.

· With the tremendous response received, the issue price would be fixed at the upper end of the price band at Rs.288 per share.

· The stock is expected to list on the NSE and the BSE on the last week of this month and the listing is likely to be strong after the recent Burger King experience.

· Mrs Bectors Foods is one of the leading domestic players in bakery and biscuits and is among the largest suppliers of bakery products to Burger King and other QSRs.

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