Based on research Premium biscuit maker and the leading supplier of buns to fast-food chains like burger king and McDonald’s, Mrs. Bector Food Specialities, is planning to launch its Initial Public Offering (IPO) next week.
The steps came close on the heels of the Burger King IPO which initiated on 2nd December and ended on 4th of December, the palate of investors in all categories and was oversubscribed astonishing 157 times.
As of now, the firm is planning to launch the IPO on December 15th after receiving approval from Sebi in 29 days. Feasibly the fastest for a non-PSU IPO in recent years.
Sensex had hit 45,000 for the first time. The Private investor's CX Partners and Gateway Partners who are seeking a partial exit drive this IPO.
The OFS (offer for Sale) requirement is for Rs 500 crores and due to improving valuations, the fresh issue of shares component has now reduced to around Rs.40 crores.
Initially, the fresh issue of shares according to the DRHP was for Rs.50 crore.
According to the documents filed with SEBI, Mrs. Bectors Food Specialities is the largest supplier of buns in India to leading QSR (quick-service restaurant) chains such as Burger King, McDonald's, KFC, and Pizza Hut.
It has also ventured into the frozen dough segment where it competes with rival vendor Baker's Circle, which has the largest market share.
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