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This week in FMCG: Stellar response to Mrs Bectors' IPO; Next one from KFC, Pizza Hut operator?

Sapphire Foods is managed by a team of professionals led by Group CEO Sanjay Purohit, who has earlier had stints at Levi Strauss & Co, Cadbury India & Asia Paints

December 20, 2020 / 12:56 PM IST
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Todays L/H

The week gone by was buzzing with news on initial public offers. On one hand Mrs Bectors Food Specialities IPO witnessed a stellar response, on the other hand Sapphire Foods, the operator QSR KFC and Pizza Hut is gearing up to hit the financial markets.

Mrs Bectors IPO

Biscuits and bakery products maker Mrs Bectors Food Specialities witnessed the highest subscription among IPOs in 2020 and the second-highest in the last demi-decade.

The Rs 540.54-crore IPO received subscription of 198.02 times during December 15-17, 2020 backed by a strong response from all investors including its employees, though they had a significantly smaller portion compared to others.

Going by the IPO size of more than Rs 100 crore, Apollo Micro Systems' IPO topped the list with 248.51 times subscription. The electronics components manufacturer raised Rs 156 crore via public issue in 2018.


Others in the top were Capacite Infraprojects IPO with 183.03 times subscription, Central Depository Services (170.16 times), Ujjivan Small Finance Bank (165.6 times) and Amber Enterprises India (165.4 times).

In 2020 alone, five companies received a strong response to their IPOs, reporting more than 149 times subscription.

Apart from Mrs Bectors Food, state-owned defence company Mazagon Dock Shipbuilders' maiden public offer was subscribed 157.41 times, quick services restaurant chain Burger King India 156.65 times, IT services firm Happiest Minds Technologies 150.98 times and Chemcon Speciality Chemicals 149.3 times.

Sapphire Foods IPO?

According to sources to Moneycontrol, After Burger King IPO, Sapphire Foods India Private Ltd, which backs top brands like KFC, Pizza Hut and Taco Bell and is one of the largest franchisees of Yum! Brands Inc, has initiated preliminary discussions with investment bankers for a potential listing in 2021.

The Mumbai-based firm counts Samara Capital, Goldman Sachs, CX Partners, IDI Emerging Markets and Edelweiss Private Equity as its investors.

Sapphire Foods, which was set up in September 2015, operates more than 400 KFC, Pizza Hut and Taco Bell restaurants across India, Sri Lanka and the Maldives.

Sapphire Foods is managed by a team of professionals led by Group CEO Sanjay Purohit, who has earlier had stints at Levi Strauss & Co, Cadbury India & Asia Paints.

IKEA Opened in Mumbai

IKEA, part of the Ingka Group, the Swedish brand and global furnishings retailer opened the doors to its Navi Mumbai store on December 18, 2020.

The over 5 lakh sq. ft IKEA store is located on the Thane-Belapur Road, approximately 600 metres from the Turbhe Station. Customers will now be able to test, try and purchase some of IKEA’s iconic products such as BILLY Bookcase, MALM Bed, EKTORP Sofa.

IKEA continues to develop its omnichannel presence with ecommerce, physical stores and additional services as Click & Collect, Click & Deliver and remote planning. After the Navi Mumbai store, two more city center IKEA Stores will open during 2021 to reach many more people in Mumbai.

IKEA is present online in Hyderabad and Pune with over 35 million online visitors so far and it has the ambition to reach 100 million Indian customers by 2022.

Raymond’s FMCG business

In an interaction with Moneycontrol, Raymond Group’s Chairman and Managing Director Gautam Hari Singhania said the group’s FMCG business has shown healthy signs of recovery and has reached pre-COVID levels by almost 95 percent.

Raymond Group operates in the FMCG segment through its associate companies – J.K. Helene Curtis Limited and J.K. Ansell Private Limited (JKAL). Through these companies, Raymond Group caters mainly to the male grooming segment through brands such as Park Avenue and KS.

During the lockdown, Raymond had launched a slew of personal hygiene products as well as skin-friendly hand sanitisers and cleansers.
Himadri Buch
first published: Dec 20, 2020 12:56 pm

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