Subscribe to Mrs. Bectors Food Specialities: Choice Equity Broking

Choice Equity Broking has come out with its report on Mrs. Bectors Food Specialities. The research firm has recommended to ''Subscribe'' the ipo in its research report as on December 13, 2020

December 14, 2020 / 07:59 PM IST
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Choice Equity Broking IPO report on Mrs. Bectors Food Specialities

Bread and biscuits maker Mrs. Bectors Food Specialities Ltd. (Bectors Food), is looking to raise around Rs. 5,400mn from an IPO. The issue is set to opens on 15th Dec. and closes on 17th Dec. 2020. The price band is Rs. 286 - 288 per share. The issue is a combination of fresh (Rs. 405.4mn) and OFS (Rs. 5,000mn). The company will not receive any proceeds from the OFS portion. Net proceeds from the fresh issue will be used to finance the brownfield expansion at one of its existing manufacturing facilities.

Valuation and Outlook

Thus considering the above observations, we assign a “SUBSCRIBE” rating for the issue.

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