Mrs Bectors will launch a Qualified Institutional Placement to raise up to Rs 400 crore at Rs 1,550 per share, reported CNBC-TV18 citing sources on September 6.
The indicative issue price is Rs 1,550 per share, the channel reported.
The price is at a discount of nearly 6 percent to current market price of Mrs Bectors shares.
At 9:20 am on September, Mrs Bectors shares were trading nearly 2 percent higher at Rs 1,645 apiece.
The FMCG firm will utilise QIP proceeds for repayment of borrowings, investment in their subsidiary, financing the project cost towards Madhya Pradesh project, reported CNBC-TV18.
ICICI Securities and others are likely to be book running lead managers.
Mrs. Bectors Food Specialities shares have delivered multibagger returns to its shareholders in the last two years rising 346.05 percent in the last two years, as per data available on the BSE. In the last three years, it was up 324.22 percent.
Mrs Bectors has a wide spread and established distribution network with presence across multiple states. It is one of the leading biscuits and bakery products manufacturers in North India.
It manufactures biscuits under the flagship brand 'Mrs. Bector's Cremica' and bakery products under the brand 'English Oven'. Biscuits and bakery products maker shares were listed on the bourses in December 2020.
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