Mrs Bectors Food Specialities files Rs 800-cr IPO papers

Biscuit maker Mrs. Bectors Food Specialities has filed draft papers with markets regulator Sebi to raise an estimated Rs 800 crore through an initial public offering. The IPO will see the sale of shares to the tune of Rs 800 crore by existing shareholders and promoters, according to the draft red herring prospectus (DRHP) filed with Sebi.

Linus, Mabel, GW Confectionary Pte Ltd, GW Crown Pte Ltd and Anoop Bector will be offering stocks in the initial share sale.

“Listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” the company said.

IDFC Bank, Edelweiss Financial Services and IIFL Holdings will manage the company’s initial public offer (IPO). The equity shares will be listed on BSE and NSE.

Mrs. Bectors Food manufactures and markets a range of products such as biscuits, bread and buns.

It markets a wide variety of biscuits and bread under the flagship brand ‘Mrs. Bector’s Cremica’ and the ‘English Oven’ respectively.

Apart from Mrs. Bectors Food, at least five companies — Sansera Engineering, Dodla Dairy, Nihilent, Shyam Metallics and Energy and ASK Investment Managers — have filed IPO papers with the markets regulator so far this month. SP

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/mrs-bectors-food-specialities-files-rs-800-cr-ipo-papers/65401162

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