Mrs Bector’s Food Specialities

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1976: the beginning; 2020: IPO

December 18, 2020: The Times of India

Mrs Bector’s Food Specialities, 1976- 2020
From: December 18, 2020: The Times of India

Mrs Bector’s Food: From ₹300 home kitchen to ₹1,000cr co

IPO Subscribed 198 Times, Most Successful In 2020

Mumbai/New Delhi/Chandigarh: Almost four-and-ahalf decades after Rajni Bector, then a young bakery-course graduate from Ludhiana’s Punjab Agricultural University, baked cakes and made ice-creams for women in the city’s social circuit, the maiden public offer of Mrs Bector’s Food Specialities — the company she built over the years — was subscribed 198 times. This made the company’s IPO the most successful maiden offering this year.

In the Rs 541-crore IPO, the high net worth investors’ part was subscribed 621 times, while the institutional part 177 times, BSE data showed. The retail part was subscribed a little over 45 times, showing widespread interest in the share issue.

Following the initial public issue, the company — which sells Cremica biscuits and bread under the English Oven brand — will see its promoters’ wealth at over Rs 550 crore, assuming the stock is listed at Rs 288, the upper end of the price band for the IPO. If the recent trend of listings is extrapolated with IPOs that got more than 150 times subscription, the stock price of Mrs Bector’s Food could double on the first day itself.

Back in 1976, when her husband remained busy with his business, Rajni Bector began making ice creams with a hand churner in the backyard of her house in Ludhiana’s upmarket Sarabha Nagar area. Soon she began getting orders for birthday and kitty parties. An oven costing Rs 300 was soon added to her kitchen. Two years later, impressed with her culinary skills, her husband Dharamvir gave her Rs 20,000 which catapulted her craft into a full grown business. “My husband showed his trust in a woman’s entrepreneurial dream in 1978. Unfortunately, I lost him three years ago. Till date, I work in Cremica as a shareholder and still advise my kids on ingredients on dough, spices to tomatoes for our products,” Bector told TOI.

At the end of the last financial year, the company was raking in revenue of over Rs 700 crore and notched up a profit of Rs 28 crore.

Mrs Bector’s Food Specialities, 1976- 2020