Shardul Amarchand Mangaldas & Co. advises in the IPO listing of Mrs. Bectors Food Specialities Limited
December 26, 2020
Shardul Amarchand Mangaldas advised Mrs. Bectors Food Specialities Limited (“the Company”) in their initial public offering of 18,769,701 equity shares aggregating to approx. INR 5,400 million (USD 73.50 million (approx.) (the “Offer”) as deal value. The date of closing was December 22, 2020.
The Company is one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India, according to the “Report on Indian Biscuit & Bakery Industry” dated September, 2020, prepared by Technopak.
The transaction team was led by Prashant Gupta – Partner, Sayantan Dutta – Partner, Reema Dash – Principal Associate, Maharghya Biswas – Associate, Sowmya Padmanabhan – Associate and Jayant Bhardwaj – Associate. The deal was completed in an unprecedented expedited timeline of two months from the date of filing of the draft red herring prospectus to listing. The Offer was oversubscribed ~199x, with strong investors and hitting the upper circuit breaker on the day of listing. The equity shares were listed at 74% premium.
Advisors to Gateway Partners were AZB & Partners; Special Purpose International Legal Counsel to the BRLMs – Squire Patton Boggs Singapore (MEA) LLP;
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