Shares of buscuits and bread maker Mrs Bectors Food Specialities made a strong debut on the BSE and National Stock Exchange (NSE) today listing at 74 per cent premium over their issue price.
The scrip got listed at Rs 501.00 apiece on the BSE, thereby registering a rise of 73.96 per cent from its offer price of Rs 288. On the NSE, it debuted at Rs 500.00, up Rs 212 from the issue price. The stock didn’t stop there but continued to rally further and within minutes hit its 20 per cent upper circuit.
Mrs Bectors Food Specialities eventually settled at Rs 595.55 on the BSE, thereby registering a 106.79 per cent rise on the issue price. While on NSE, it ended the first day at Rs 592.50 per share, rising 105.73 per cent. Over 37.81 lakh (37,81,412) shares were traded on the BSE in the first day of trade, while over 3.70 crore (3,70,66,792) shares exchanged hands on NSE, data from the respective exchanges showed.
The company which makes biscuits and sauces under the brand name “Mrs Bector’s Cremica” and bakery products under the brand name of “English Oven” raised Rs 540.54 crore through its IPO during December 15-17. the issue was subscribed a whopping 198.02 times, making it the most subscribed IPO in 2020, leaving behind Mazagon Dock Shipbuilders (157.41 times) and Burger King India (156.65 times).
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