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.