Mrs. Bectors Food Specialties Limited is proposing an initial public offering of its equity shares aggregating up to ₹ 5,405.40 million (the “Offer”) comprising a fresh issue of such equity shares as aggregating up to ₹ 405.40 million (the “Fresh Issue”) and an offer for sale of aggregating up to ₹ 5,000.00 million (“Offer for Sale”), which includes an offer for sale aggregating up to ₹ 2,450.00 million by Linus Private Limited, up to ₹ 385.00 million by Mabel Private Limited, up to ₹ 1,860.00 million by GW Crown PTE. Ltd and up to ₹ 305.00 million by GW Confectionary PTE. Ltd. (Linus Private Limited, GW Confectionary PTE. Ltd., GW Crown PTE. Ltd and Mabel Private Limited collectively referred to as the “Selling Shareholders”)
This offer includes a reservation of up to such Equity Shares aggregating up to ₹ 5.00 million for purchase by eligible employees (the “Employee Reservation Portion”). A discount of ₹ 15.00 per equity share shall be offered to eligible employees bidding in the Employee Reservation Portion.
The price band and the minimum bid lot have been decided by the Company and the Selling Shareholders in consultation with the book running lead managers appointed in relation to the Offer (the “BRLMS”)
The Offer is being made through the book building process, in compliance with Regulation 6(1) of SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to qualified institutional buyers (“QIBs”) (the “QIB Category”), provided that Company and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Category to anchor investors on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for the domestic mutual funds, subject to valid bids being received from the domestic mutual funds at or above the price at which allocation is made to anchor investors (“Anchor Investor Allocation Price”).
Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to mutual funds, subject to valid bids being received at or above the offer price, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than anchor investors), including mutual funds, subject to valid bids being received at or above the offer price. If at least 50% of the Offer cannot be allotted to QIBs, then the entire application money will be refunded forthwith. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to non-institutional investors (“Non-Institutional Category”) and not less than 35% of the Offer shall be available for allocation to retail individual investors (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid bids being received from them at or above the offer price.
Further, equity shares will be allocated on a proportionate basis to eligible employees applying under the Employee Reservation Portion, subject to valid bids received from them at or above the offer price.
The equity shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, NSE is the Designated Stock Exchange.
SBI Capital Markets Limited, ICICI Securities Limited and IIFL Securities Limited are the Book Running Lead Managers to the Offer.
MRS. BECTORS FOOD SPECIALITIES LIMITED
Mumbai, December 10th, 2020
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