Mrs Bectors Food Specialities IPO is likely to open next week and we can’t help but notice that the company is a supplier to Burger King – a company which has just concluded its successful IPO. Let’s take a look at Mrs Bectors IPO GMP right after the vital details of the offer:
Mrs Bectors Food Specialities IPO details
| Subscription Dates | 15 – 17 December 2020 |
| Price Band | INR286 – 288 per share |
| Fresh issue | INR50 crore |
| Offer For Sale | INR500 crore |
| Total IPO size | INR550 crore |
| Minimum bid (lot size) | 50 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Mrs Bectors Food Specialities operates in biscuits and bakery segments and apart from offering products under Cremica and English Oven brands, it supplies buns to reputed Quick Service Restaurant (QSR) chains. This upcoming IPO is a pure FMCG play and is likely to raise INR550 crore, primarily through sales by private equity investors CX Partners and Gateway Partners.
The company’s clients in QSR segment include Burger King India Limited, Connaught Plaza Restaurants Private Limited, Hardcastle Restaurants Private Limited, and Yum! Restaurants (India) Private Limited. Sales to institutional clients accounted for 16.8% of its revenues in FY2020. In total, bakery segment contributed nearly 34% in topline in previous year and margins are also superior in this segment when compared with Biscuits.
Mrs Bectors IPO GMP (Grey Market Premium) rates
| Date | GMP (in INR) | Kostak (in INR) | Subject to Sauda (in INR) |
| 23 Dec 2020 | 160 | 430 | 7,500 |
| 22 Dec 2020 | 140 | 400 | 7,000 |
| 21 Dec 2020 | 170 | 400 | 7,000 |
| 19 Dec 2020 | 190 | 430 | 7,500 |
| 18 Dec 2020 | 200 | 450 | 7,500 |
| 17 Dec 2020 | 225 | 470 | 8,000 |
| 16 Dec 2020 | 200 | 400 | 7,000 |
| 15 Dec 2020 | 220 | 450 | 7,200 |
| 14 Dec 2020 | 200 | 400 | 7,000 |
| 12 Dec 2020 | 180 | 350 | 6,000 |
| 11 Dec 2020 | 170 | 300 | 6,000 |
| 10 Dec 2020 | 130 | – | 5,500 |
| 9 Dec 2020 | 130 | – | 5,500 |
| 8 Dec 2020 | 150 | – | 6,000 |
| 7 Dec 2020 | 160 | – | – |
While the company has not revealed the pricing yet, it is expected to be around INR300 per share. This means that the grey premium is around 50% of the offer price. Although the premium may change going forward, t is a strong start for now. Keep an eye on this space for latest and daily GMP movements in Mrs Bectors IPO.
