MRS 2020 Super Hit IPO, Subscribed 198 times

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new Delhi : Mrs. Bectors has been a super hit IPO of 2020. On the third day after the issue opened, it was subscribed nearly 198 times. Thursday was the last day of investment in this issue. This year it became the most subscribed IPO. This issue was opened on Tuesday. The company sells biscuits under the name Crimea Brand.

By 5 pm on Thursday, Mrs. Bectors received bids for 2,62,09,83,150 shares. This is 198 times the issue size. The company is going to issue 1,32,36,211 shares in the issue. The company is raising Rs 541 crore from the issue.

On the first day of the issue i.e. on Tuesday, it was fully subscribed within a few hours. This is the second IPO to open this month after Burger King India, which received excessive applications shortly after opening. In this issue, new shares worth Rs 40.54 crore are being issued by the company, while shares worth Rs 500 crore have been offered.

The company has fixed a price range of 286 to 288 rupees for the issue. Earlier, Mrs Bacters Food raised Rs 162 crore from anchor investors. SBI Capital Markets, ICICI Securities and IIFL Securities have been appointed as managers of this share sale offering. The company manufactures biscuits, bread and buns.

There is an all-round craze regarding this issue in the unauthorized market. The attractive valuations, primary market enthusiasm and strong results of the company in the first half of FY 2020-21 are the main reasons.

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Unlisted Zone co-founder Dinesh Gupta said, “The company has done extremely well in the first half of the current financial year. The FMCG sector has been performing well since the lockdown, raising investor interest in its issue.” . ”

He said, “Investors are welcoming the IPO with both hands. Burger King and Gland Pharma have recently got a bumper listing, which is giving a great response to the IPO of Mrs. Bector as well.”

Mrs. Bector started in the year 1995. Recently, the company has introduced many types of cookies and breads. Also, the company has joined hands with many large retail and institutional customers.

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