InvestorQ : When is the IPO of Bector Foods expected to hit the markets?
diksha shah made post

When is the IPO of Bector Foods expected to hit the markets?

Arti Chavan answered.
2 years ago

The latest IPO to get the approval of SEBI is Mrs Bector Foods, a major manufacturer of biscuits and cookies in India. While SEBI has given its approval for the IPO of Mrs Bector Foods, the finer details of the IPO schedule are still to be worked but should happen in the next couple of months.

The overall size of the IPO is expected to be Rs.550 crore. This IPO will constitute a fresh issue of Rs.50 crore and an offer for sale of Rs.500 crore, wherein some of the promoter group companies and other investors will be divesting their stake to the public.

While the OFS will not bring any fresh funds into the company, the fresh issue proceeds will be used to expand the Rajpura manufacturing facility of the company to create a new line for manufacturing biscuits and expand output significantly.

In addition, it will also give the company the capacity to use its stock as a currency for its future expansion plans, which could include any inorganic plans via the mergers and acquisitions route.

The company’s biscuits are sold under the brands, Mrs Bector Cremica and English Oven. Food companies have been in the limelight of late for their resilience in the midst of the pandemic. Mrs Bector had originally filed with SEBI for an IPO in 2018 but decided to withdraw its IPO back then due to adverse market conditions.