Ms. Bectors ’IPO too subscribed on the first day of a stock sale

Retail investors bet on the initial public offering of Ms. Bectors Food Specialties Ltd., a supplier of McDonald’s to KFC, on the first day of subscription.

The number was subscribed 1.54 times since 12:27 pm on December 15, according to data compiled by Edelweiss Partners. The IPO will close on December 17th.

Subscription details:

  • Institutional investors: 0

  • High net worth individuals: 25%

  • Retail investors: 2.96 times

  • Employee: 91%

The inaugural offer consists of a recent stock number worth Rs 40.5 crore and a crore price of $ 500 from Linus Pvt., Mabel Pvt., GW Crown Pte. and GW confectionery Pte. The price range for the sale of shares was set at 286-288 rupees per piece, according to its red-hair prospectus.

The company, according to an exchange, raised 162 crore, allocating 56,25,415 shares to anchor investors, including Goldman Sachs India Ltd., HDFC Life Insurance, Franklin India Smaller Companies Fund and IDFC Emerging Business Fund, among others. A total of seven investment associations applied for a total of 23 plans.

Ms. Bectors plans to use the proceeds to expand her biscuit factory at Rajpura, Punjab.