Mrs Bectors IPO, 7th IPO in 2020 to see full subscription on Day 1
Mrs Bectors Food Specialties is the biscuits and bakery products maker, and this is the seventh IPO that is fully subscribed on the first day of bidding in 2020. On December 15th Mrs Bectors received a subscription of 2.3 times on the first day of its bidding schedule it has gained the highest interest from retail investors, employees, and HNIs. On December 15th retail investors subscribed 4.4 times and that for employees 1.4 times, while non-institutional investors witnessed 66 percent of subscription.
Likhitha Infrastructure Ltd was the first IPO to get a full subscription on day one of bidding itself in 2020, subscribing 2.86 times, while AAA Technologies Ltd. IPO witnessed the highest subscription of 5.18 times on the very first day. Mrs Bectors Food was the fifteenth IPO this year.
Hence the Burger King IPO listed on Monday. On the first day, it was oversubscribed in the first few working hours. Burger King shares have hit nearly the 20% upper circuit limit today. Mrs Bectors Food made up of a fresh issue of Rs. 40.54 crore and an offer-for-sale of up to Rs. 500 crore. Mrs Bectors Food IPO has fixed its price range for Rs. 286-288 per share. After the huge listing of Burger King, the retail investors are much excited about this Mrs Bectors Food IPO. However, the retail Investors are expecting good listing gains as the current market velocity is extremely strong and the mood of the global and local investors is positive.
On the other side, the Analysts believe it will bring hope to the face of Retail Investors.