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Chairman and Managing Director of <keyword id="2723447" type="UNKNOWN" weightage="20" keywordseo="Cremica-Food-Industries">Cremica Food Industries</keyword> Limited and founder of YPO’s Punjab Chapter, Akshay Bector‘s (WPO Delhi) family were some of the most prominent members of commodity trading houses in India going back to 1880. One hundred years later, in the 1980s, new laws forced the family out of trading and into the world of food production. 
 
“We started off in the food Industry at a time when India was breaking off from License Raj (a system of central controls regulating entry and production activity across Indian states) and regulated economy,” says Akshay. “The initial years were tough and there was very little trained manpower – nothing like you see today. Having a history of many generations and ingrained values helped to form the guiding principles that developed the brand.” 
 
Akshay took what had previously been his mother’s hobby (cooking) and in 1987, established a modern bread plant. He followed this up by opening a world-class biscuit plant and soon thereafter, his efforts led to a joint venture with Quaker Oats Company (USA) for manufacturing ketchup, mayonnaise and other liquid condiments. On a roll, he created partnerships with EBI Foods (U.K.) for manufacturing battering and breading pre-mixtures and with McDonald’s, becoming one of their biggest suppliers in India. 
 
Under Akshay’s leadership, Cremica has become no. one in mayonnaise production and no. three in ketchup production in India, maintaining one of the highest growth rates in the industry. A key factor of the company’s exponential business growth has been Akshay’s focus on quality and innovation. 
 
 “More than three decades of quality and innovation have helped the Cremica group to become more relevant and important in India,” he says. “And, Cremica continues to introduce customers in India to new tastes. Since the beginning, we have been associated with bigger food chains coming to India and have helped identify global recipes that fine tune flavors for an Indian palette.” 
 
As India’s economy grows, Cremica is poised for a phase of aggressive growth. 
 
 “We are investing in rapid expansion of distribution reach and strategic investments in backward integration,” says Akshay. “As more and more women start to work in the hinterland, there will be more demand for the food – far higher than national growth – and Cremica will continue to add exceptional value to the market.” 
 
According to “Economic Times,” “As the success stories of Indian entrepreneurs are celebrated, more people in the hinterland are being emboldened to try their hand at starting up.” 
 
 “India is a very vast and varying country with diverse taste preferences,” says Akshay. “Thedemographics are pointing towards huge dividends for organizations.” 
 
 “Demographic dividend,” a phrase coined by demographer David Bloom, proposes that when young, working-age adults comprise a disproportionate percentage of a country’s population, affecting the national economy in positive ways. According to “strategy business,” the country most likely to be affected by demographic dividend is India. 
 For his many contributions to the growth of India, Akshay has been awarded “Entrepreneur of the Year” by Entrepreneur India 2013, in the 3rd National Convention on <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">Entrepreneurship</keyword> 2013. This event has become the marquee entrepreneurship event for enterprising entrepreneurs in India, attracting over 300 leading entrepreneurs and members from the Indian investor community together with CEO's and professionals leading growth-oriented organizations. 
 
A testament to his business leadership, Cremica received “McDonald’s Asia Pacific Award for Innovation” in “McDonald’s APMEA 2013 Supplier Business Forum.” 
 
Of significant help to Akshay on his journey, has been the support of YPO and specifically, the Food and Beverage Network. 
 
 “YPO has been an exceptional experience starting with founding the Punjab chapter,” says Akshay. “The exposure to a vast network of friends adds a new dimension to one’s business and professional life.”

Thinking Globally; Acting Locally: Akshay Bector Fine Tunes Flavors for an Indian Palette

<keyword id="13333049" type="General" weightage="20" keywordseo="mrs-rajni-bector" source="Orion">Mrs Rajni Bector</keyword> is a well-known personality, not only to people in the food industry but across <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>. Awarded the coveted <keyword id="25105" type="General" weightage="20" keywordseo="padma-shri" source="Orion">Padma Shri</keyword> award in 2021 for her role in promoting the growth of the industry, she plays a pivotal role in encouraging young women to work, follow their passions, and become independent. Her story truly inspires, especially when you account for the fact that Indians at the time were not so liberal in allowing the women of their homes to work anywhere. “1978 was a time when the ladies of Ludhiana from good families did not work at all; it was considered shameful,” shares <keyword id="214318" type="General" weightage="100" keywordseo="bector" source="Orion">Bector</keyword>. How, then, did a young <keyword id="351018" type="General" weightage="20" keywordseo="mrs-bector" source="Orion">Mrs Bector</keyword> start Cremica — a ₹2500 crore company, the products of which we love to gorge on? In a recent conversation with her logistics partner, Maersk, the octogenarian opened up on her inspirational entrepreneurship journey and how she discovered her grit to move forward and build a world-renowned empire in the food industry today. Mrs. Bector had always enjoyed making puddings, biscuits, cakes, and salads. She experimented with flavours to create new dishes every day and invited people over to taste. She especially liked making ice creams. Having done a vocational course in dairy technology from <keyword id="48276" type="General" weightage="20" keywordseo="punjab-agricultural-university" source="Orion">Punjab Agricultural University</keyword>, which taught her to make basic flavours, she experimented with different topics and ingredients and developed 40 new flavours of ice creams even before starting Cremica! Word spread about her products, and she started getting orders from all over Punjab, Chandigarh, and Delhi. Soon, Bector began catering for parties, events, and weddings — and all alone. She had to work for up to 18 hours a day to accommodate the ever-increasing orders. However, she did not let it affect her responsibilities as a mother. Undivided attention to her children coinciding with her expanding business meant that cooking had to be reserved for the night—something that did not deter Bector. “My children used to attend boarding school at the time, and whenever they were home for their holidays, my focus was always to spend time with them. I was very determined that I would not neglect my children,” emphasizes Bector. The entrepreneur who wowed her friends with her cooking was often told to turn her passion into a commercial business. Seeing herself succeed in creating a taste for western dishes such as puddings, bread, and pizzas also motivated her. With this encouragement from friends and family, her advent into the business started with setting up a humble stall at a local fete. To her dismay, she was allotted a space right next to Kwality, a brand that was famous for its ice creams. Getting dejected, she wondered whether anyone would even be interested in her novice brand. But to her surprise, people thronged her stall until her ice creams were sold out! With the influx of orders that she was receiving, she finally decided to take her home kitchen to greater heights. With sound business advice from her husband, the foundation for Cremica was laid in Mrs. Bector’s backyard with a humble sum of money. This small unit soon transformed into a fully-functioning plant in the 1990s with her rising popularity. <div type="Youtube" id="xKarUWOT7FQ" title="#BreakTheBias and #DiscoverHerGrit with our customer Mrs. Rajni Bector" thumbUrl="https://i.ytimg.com/vi/xKarUWOT7FQ/mqdefault.jpg"></div> Her journey as a supplier to quick-service restaurants started shortly after when McDonald’s approached Mrs. Bector’s factory for a year-long trial to see if Cremica could become their supplier for buns. Impressed with her efficiency in her business, production quality, and systems, McDonald’s eventually signed on Cremica in 1996 as their long-term supplier for buns, ketchup, toppings, and other condiments. The brand also collaborated with Quaker Oats, Chicago, and brought eggless mayonnaise to India. To date, Cremica holds dominance in eggless mayonnaise and supplies it to HORECA enterprises all over India. Mrs. Bector shares that logistics are vital in her business since the products must reach the buyers on time. Having grown from humble beginnings to now exporting across 65 countries to expand, even more, a strong and reliable logistical partnership became a crucial factor in her success and growth. The Miranda House alumna was still studying when she got married. Not paying heed to society’s negative perceptions of working women, Mrs. Bector kept doing what she did best—cooking! Maybe coming from such a strong women’s institution ensured that she never let anyone else dictate how her life would turn out be. Her motto was to be brave in the face of other people’s beliefs. “I enjoy cooking because I am creating something new with my own hands and I am proud of my ability to do it. So, I was determined not to listen to anybody else’s opinions on what I ‘should’ do,” says Bector. What she didn’t realize was how much she was inspiring other women who had always longed to work but had lacked the will for it. Receiving a Padma Shri as a woman from Ludhiana was almost considered an impossibility at the time. Her achievement of this award is an inspiration to young women; they can also aspire to build their careers and get recognized for it. “Nobody is perfect in life, including me. For perfection, every day is a new day to learn. So, make sure to keep on learning,” says Bector. Disclaimer: This is a sponsored post in partnership with Maersk.

This Women’s Day, Maersk’s exclusive Discover Her Grit series introduces us to the powerhouse behind Mrs. Bector Foods

<ul><li>Mrs Bector’s Food Specialities is all set to float its ₹540 crore initial public offering (IPO) on December 15. </li><li>The company is the largest supplier of buns in India to reputed QSR chains such as Burger King India, Connaught Plaza Restaurants, Hardcastle Restaurants, and more.</li><li>Price band for the IPO has been set at ₹286-288, and the issue will close on December 17.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>A premium biscuit-maker and leading supplier of buns to fast-food chains like Burger King and McDonald's, Mrs Bector’s Food Specialities is all set to float its ₹540 crore initial public offering (IPO) on December 15. The company manufactures and markets a range of products such as biscuits, bread and buns. It also markets a wide variety of bakery products under its flagship brand "Mrs Bector's Cremica" and the "English Oven". Mrs Bector's Foods IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 17 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹286-288 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr></tbody></table> Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. Company plans to use the IPO proceeds for financing the project cost towards its Rajpura expansion project by establishing a new production line for biscuits and for general corporate purpose. Once the IPO is concluded, the shares are likely to hit the bourses on December 28. The equity shares will be listed on both the exchanges — BSE and NSE. SBI Capital Markets, ICICI Securities and IIFL Securities are the lead managers for its initial public offering (IPO). Mrs Bector’s Food: All you need to know <ul><li>ITC, Britannia Parle are the key rivals for Mrs Bector's Food in the biscuits and bakery products segment.</li><li>The company is the largest supplier of buns in India to reputed QSR chains such as Burger King India, Connaught Plaza Restaurants, Hardcastle Restaurants, and Yum! Restaurants and many more.</li><li>The company has six manufacturing facilities located in Phillaur and Rajpura (Punjab), Tahliwal (Himachal Pradesh), Greater Noida (Uttar Pradesh), Khopoli (Maharashtra) and Bengaluru (Karnataka).</li><li>The company’s net profit has seen a stellar growth of 282.18% from September 30, 2019 to September 30, this year, it said in its RHP. </li><li>The Indian biscuits and bakery retail market is valued at ₹ 450.00 billion and is expected to grow at a CAGR of approximately 9% over the next five years.</li></ul>IPO rush continues The IPO of Mrs Bectors Food Specialities is the latest to come out with a public offering this year, which has seen 13 IPOs so far. The recently concluded IPO of Burger King, saw a stellar response from investors — making it the second most subscribed IPO this year with a subscription of 156.65 times. However, Mrs Bector’s Food might not be the end of IPOs this year — IRFC to RailTel and many more are on the anvil. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

McDonald’s and Burger King supplier Mrs Bector's Foods to launch ₹540 crore IPO on December 15

<ul><li>The ₹540 crore (about $73 million) share sale of <keyword id="6796537" type="UNKNOWN" weightage="20" keywordseo="Mrs-Bectors-Food-Specialities">Mrs Bectors Food Specialities</keyword> was subscribed 2.98 times on the first day of bidding on Tuesday. </li><li>This is the second initial public offer this month to have received an oversubscription in the first few hours itself – the first one being Burger King India. </li><li>The IPO received bids for 2.94 crore equity shares against the offered size of 1.32 crore shares, according to data from the <a href="https://www1.nseindia.com/products/content/equities/ipos/ipo_current_bectorfood.htm">stock-exchanges</a>.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The initial public offer of Mrs Bectors Food Specialities is off to a flying start. The ₹540 crore (about $73 million) share sale was subscribed 2.98 times on the first day of bidding on Tuesday (November 15). This is the second initial public offer this month to have received an oversubscription in the first few hours itself – the first one being Burger King India. <div type="Article" hostid="261" msid="79721783" title="INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter" mstype="2" mssubtype="0"></div> The Mrs Bectors IPO received bids for 2.94 crore equity shares against the offered size of 1.32 crore shares, according to data from the <a href="https://www1.nseindia.com/products/content/equities/ipos/ipo_current_bectorfood.htm">stock-exchanges</a>. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Mrs Bectors Food Specialities IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer size </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,776,502 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,832,378 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,608,881 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18,450 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,236,211 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.00x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.84x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.60x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.69x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.98x </td></tr></tbody></table> The qualified institutional buyer was the least subscribed portion as it usually receives bids on the closing day. Whereas, the individual retail investor was the most subscribed portion. Ahead of the IPO, the spirits are up for the owners, the analysts as well as the grey market where the premiums are 70% over the issue price band of ₹286-288 per share. And, nearly all the top brokerages have recommended to ‘subscribe’ to the issue citing various factors from strong valuation to robust business growth. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashika Research </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financials </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> The company had also raised ₹162 crore from anchor investors ahead of its IPO. The marquee investors include HDFC Life Insurance, Goldman Sachs India, Franklin India Smaller Companies Fund and SBI Debt Hybrid Fund, among others. 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'. The company plans to use the IPO proceeds for financing the project cost towards its Rajpura expansion project and establishing a new production line for biscuits. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/tech/apps/news/gmail-youtube-google-docs-crash-for-users-across-the-world/articleshow/79720225.cms" data-type="tilCustomLink">YouTube, Gmail, Google Meet, Google Docs and Play Store restored for some users as others still face outage</a>

Mrs Bectors Food Specialities is off to a great start — $73 million IPO was subscribed 3 times on day one

INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter

<ul><li><keyword id="351018" type="COMPANY" weightage="20" keywordseo="Mrs-Bector">Mrs Bector</keyword>’s Food shares debuted on the bourses today at a premium of over 73%. </li><li>An investment of ₹14,400 in the company is now worth almost ₹30,000 – more than doubling investor wealth on listing day. </li><li>Mrs Bector’s is a premium biscuit-maker and counts McDonald’s, Indian Railways as well as government canteens amongst its clients. </li></ul>Mrs Bector’s Food Specialties had a record-breaking initial public offering (IPO), receiving subscriptions worth ₹40,000 crore for an offer of ₹540 crore. That has translated into a bumper listing as 2020 draws to an end. The shares of Mrs Bector’s opened at ₹500 - a 73% premium over the issue price of ₹288 per share. At 10:00 am, Mrs Bector’s share price was hovering around ₹590 - more than double the issue price. If you received allotment, your investment of ₹14,400 in 50 shares is now worth almost ₹30,000. This was the second initial public offer this month to have received an overwhelming response – the first one being Burger King India, which is one of its clients. The Mrs Bector’s IPO garnered 198 times subscription. What’s Mrs Bector’s business all about? Mrs Bector’s is a premium biscuit-maker and leading supplier of buns to fast-food chains like McDonald’s, the Indian Railways as well as government canteens. The legend goes that company’s flagship brand "Mrs Bector's Cremica" was born out of the Hindi phrase “cream ka” (made of cream) when Rajni used to sell ice creams. Her recipes became so popular that the initial investment of ₹20,000 is today a ₹1,000-crore business spanning countries. “Today as you know, we are one of the leading brands in biscuits and bakery business in North India, and we have established this brand from scratch. We hold a 4.5% market share in North India. We export 12% of the total biscuit exports from India,” <keyword id="349439" type="COMPANY" weightage="20" keywordseo="Anoop-Bector">Anoop Bector</keyword>, Rajni’s son and the Managing Director of the company told Business Insider in an interview. What are the analysts saying? According to Angel Broking, Mrs Bector’s Foods IPO was priced at a significant discount compared to Britannia Industries, Nestle India, Prataap Snacks and DFM Foods — and given the significant discount compared to listed peers there is “comfort” on the valuation. Mrs Bector’s price-to-earnings ratio is also on the lower side compared to its competitors. According to analysts at Angel Broking, for Mrs Bector’s Foods, an investor is willing to pay ₹27.9 now for every rupee earned in profit a year down the line. And that is too small a price to pay, according to Angel Broking, and therefore the stock price is likely to gain as the fears recede. The proceeds from the IPO will be used by the company to finance a new production line of biscuits at its Rajpura facility in Punjab. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms">INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a>

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