Latest News | Mrs Bectors Food Mops Up Rs 162 Crore from Anchor Investors

New Delhi, Dec 14 (PTI) Mrs Bectors Food Specialities on Monday raised Rs 162 crore from anchor investors ahead of its initial public offer opening on Tuesday.

The biscuit maker has decided to allot more than 56.25 lakh shares at a price of Rs 288 apiece to the anchor investors, according to a regulatory filing.

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At the price of Rs 288 per share -- which is also the upper end of the IPO price band -- the total amount raised is little over Rs 162.01 crore.

HDFC Life Insurance Company, Goldman Sachs India, Franklin India Smaller Companies Fund and SBI Debt Hybrid Fund are among the anchor investors.

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There are a total of seven mutual funds among the anchor investors and those have applied through 23 schemes, as per the filing.

The company's Rs 540 crore-IPO would open for public subscription on Tuesday and the price band has been fixed at Rs 286-288 per share.

The offer comprises fresh issuance of shares worth Rs 40.54 crore and offer for sale to the tune of Rs 500 crore by existing shareholders. Linus Private Limited, Mabel Private Limited , GW Confectionary Pte Ltd and GW Crown Pte Ltd will be selling shares in the offer.

Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and breads under the flagship brand 'Mrs Bector's Cremica' and the 'English Oven', respectively.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)