The initial public offering (IPO) of Mrs Bector sone of the leading companies in the premium bakery segment and a supplier to fast-food chains like Burger King, will open for subscription on December 15, with the price band fixed at Rs 286-288 per share.
The bakery products maker plans to raise Rs 540.54 crore the IPO, which comprises a fresh issue of Rs 40.54 crore and an offer for sale of Rs 500 crore by selling shareholders.
Linus Private Limited is going to sell Rs 245 crore worth of shares via offer for sale, Mabel Private Limited Rs 38.5 crore, GW Crown PTE Ltd Rs 186 crore and GW Confectionary PTE Ltd Rs 30.5 crore.
Shares worth Rs 50 lakh have been set aside for eligible employees, who will get a discount of Rs 15 per share.
The company and selling shareholders in consultation with the book running lead managers decided on a minimum bid lot of 50 equity shares and in multiple of 50 shares thereafter.
The issue will open for anchor investors a day earlier on December 14, while the three-day public issue will close on December 17.
Mrs Bectors Food Specialties supplies bakery products to retail consumers in 26 states in India and to institutional customers with pan-India presence and to 64 countries.
Mrs Bector’s Cremica is one of the leading biscuit brands in the premium and mid-premium segment in Punjab, Himachal Pradesh, Jammu and Kashmir and Ladakh. Its English Oven is the one of the largest selling brands in the premium bakery segment in Delhi NCR, Mumbai and Bengaluru.
It is also the largest supplier of buns in India to reputed quick-service restaurant chains such as Burger King India, Connaught Plaza Restaurants, Hardcastle Restaurants, and Yum! Restaurants (India), the Technopak report says.
The equity shares offered are proposed to be listed at both BSE and the National Stock Exchange of India. SBI Capital Markets, ICICI Securities and IIFL Securities are the book running lead managers to the offer.