Mrs Bectors’ shares zoom 107% on debut


Shares rise to ₹595.5 apiece.

Shares of Mrs Bectors Food Specialities on Thursday made a remarkable market debut and closed at a premium of 107% against its issue price of ₹288.

The stock opened at ₹501, reflecting a jump of 73.95% from the issue price on the BSE. It closed at ₹595.55, a gain of 106.8%. The company’’s market valuation was at ₹3,498.65 crore on the BSE. About 37.81 lakh shares on the BSE and more than 3.70 crore units on the NSE were traded during the day.

Mirroring massive investor response, Mrs Bectors Food Specialities initial public offer was subscribed a whopping 198 times earlier this month. The price band for the share sale was at ₹286-₹288 apiece. Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns.

It markets a variety of biscuits and breads under the flagship brands ‘Mrs Bector’s Cremica’ and the ‘English Oven’, respectively.

Earlier this month, shares of Burger King India had zoomed almost 131% on their debut.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.