Mrs Bector IPO: premium increases in gray market, issue subscribed 4 times


new Delhi: Mrs Bektor’s IPO has received a great response from investors. This issue has been subscribed 4 times. Earlier on Monday, Burger King shares were strongly listed in the stock market. Its effect is also visible on the IPO of Mrs. Bector.

On Tuesday, Mrs. Bector is raising Rs 541 crore from the food specialties issue. Investors have shown good interest in the company’s stock in the gray market. The premium on its stock has increased from Rs 205 to Rs 215-220 on Monday. A price band of Rs 286-288 has been kept for this issue.

The second day was subscribed 4.09 times. The company will issue 1,32,36,211 shares under the issue. So far, bids have been made for 5,41,65,550 shares. The share of retail investors has received more than 10 times subscription, while the category of qualified institutional buyers has received only 2 per cent subscription.

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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.

Unlisted Zone co-founder Dinesh Gupta said, “The company has done very well in the first half of the current financial year. The FMCG sector has been performing well since the lockdown, which is 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. The company makes premium biscuits and bakery products. Recently, the company has introduced many types of cookies and breads. Also, the company has joined hands with many large retail and institutional customers.

Independent director of unlisted shares in Gujarat, Abhay Doshi said that the company is benefiting from the excitement of the primary market and the enthusiasm of the stock market. He also hoped for a good listing of this company.

Highlighting the challenges of the company, he said, “There is doubt about the continued performance of this year. Also, the bakery and biscuits segment is facing a tough challenge from the unorganized sector.”

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Many other analysts also agree with this. Nirali Shah, senior research analyst at SAMCO Securities, said that investors should invest money in this issue only for listing gains.

The company provides products to brands such as PVR, Burger King and McDonald’s, making up 22 per cent of its revenue. Shah said, “Due to more competition, North India-focused market and premium category products, its craze may be reduced in rural areas and small towns.”

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