Mrs Bectors to hit capital markets on December 16

Mumbai: Bread and biscuits maker Mrs Bectors Food Specialities is planning to hit the capital markets mid next week to raise around Rs 450-500 crore to fund the company's brownfield expansion of Rajpura manufacturing unit in Punjab. The proposed Initial Public Offering will open on December 16 and will close on December 17 and the price band has been fixed at Rs 286-288 per equity share of a face value of Rs 10 each.

The minimum bid lot is 50 equity shares and multiples of 50 equity shares thereafter, Mrs Bectors Food Specialities managing director Anoop Bector told reporters at the IPO roadshow.

The IPO would comprise of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) by existing shareholders worth Rs 500 crore, which includes an offer for sale aggregating up to Rs 245 crore by Linus, up to Rs 38.50 crore by Mabel, up to Rs 186 crore by GW Crown PTE. Ltd and up to Rs 30.50 crore by GW Confectionary PTE. Up to 50 per cent of the issue will be reserved for Qualified Institutional Buyers (QIB) while 35 per cent will be reserved for retail investors and not less than 15 per cent for the non-Institutional Investors (NIIs).