Mrs Bectors Foods makes stock exchange debut, lists at 74% premium

The Mrs Bectors Foods made its debut on the stock markets on Thursday at Rs 501. The shares of the food specialties company got listed at a 108% premium of its IPO price. During the Initial Price Offering (IPO), the issue price of a share was Rs 288. The Mrs Bector IPO was the most-subscribed IPO of 2020 and was oversubscribed by nearly 197 times. On its stock exchange debut, it also zoomed higher than any other IPO has in recent times. Earlier this month, the Burger King IPO had been listed at a 92% premium.

The Mrs Bectors share is currently trading at Rs 574.

The company was started in 1976 by Rajini Bector, who sold ice-creams that she made from a hand churner. The company has grown in leaps and bounds and is now the largest supplier of bread to several food chains like McDonalds and Dominos Pizza. The brand also encompasses Cremica biscuits and several bakery products like the English Oven bread.

Biscuits contributed nearly 60% of the companies revenue in FY20, while the rest was majorly Quick Service Restaurants. The company also manufactures Oreo biscuits and Chocobakes cookies for Mondelez India Foods on a contract basis.