Mrs Bectors Food Specialties made a spectacular debut on Thursday, listing at a stellar premium of more than 70 per cent and soon doubling thereafter. The shares of the biscuit maker listed at ₹ 500, a 73.61 premium over its issue price of ₹ 288 per share. The shares opened at ₹ 501, higher by ₹ 213 or 74 per cent on the BSE and at ₹ 500, a 73.61 per cent premium on the National Stock Exchange, compared to the issue price of ₹ 288. The shares soon doubled thereafter, and at 11:30 am, the shares were trading aat ₹ 571.90, up by 98.61 per cent on the BSE.
Mrs Bectors Food Specialties’ ₹ 540.54 crore maiden initial public offering (IPO) had witnessed the highest subscription among IPOs in calendar year 2020. The IPO was subscribed 198.02 times, backed by a strong response from all investors. The primary market offering was open between December 15 and December 17 and the shares were issued at a price of ₹ 286-288 per share.