MRS record: ₹ 1 lakh crore bid for ₹ 540 crore issue

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The IPO of Mrs. Bectors has been grabbed by investors with both hands. The issue received a bumper response from the primary market and was subscribed to 198 times. A bid of Rs 1.07 lakh crore was made for the issue of Rs 540 crore, which is a recent record.

In this issue, the company has bought 1.32 crore shares for sale, while investors have bid for 262 crore shares. The rich investors category received a subscription of 621 times. He bid for shares worth Rs 50,650 crore. Wealthy investors invest money in IPOs by borrowing.

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On the other hand, the category of qualified institutional investors (QIBs) received a subscription of 581 times. Retail investors received subscriptions of 29.3 times the share and employees category 45.4 times.

This is the fourth IPO of 2020, which has received more than 150 times subscription. The issue of Mazagaon Dock Shipbuilders worth Rs 443 crore and Burger King’s Rs 810 crore issue was subscribed 157 times. Issues of Happiest Minds and Chemcon Specialty Chemical were also subscribed 151 times.

Market giants believe that due to the boom in the main market, the primary market can remain bright. In the year 2020, 30 companies can raise more than Rs 30,000 crore.

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Mrs. Bectors is a premium biscuit and bakery company, which supplies bread and bun to many companies like McDonald’s, KFC, Burger King, PVR. The company had a price band of Rs 286-288 for the issue. Burger King’s great listing also boosted investors’ spirits.

Most brokerages advised to subscribe to the issue. Prabhudas Lilladher said, “The stock is getting 28 times the price based on estimated earnings for FY 2020-21, while Britannia is trading at a price of 48 times. Its rating may improve after listing. . ”

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