Mrs. Bectors Food Specialities rallies 10%; stock surges 30% over QIP price

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Mrs. Bectors Food Specialities rallies 10%; stock surges 30% over QIP price - Business Standard

Quick Summary:

Bectors Food on Tuesday, September 10, informed that the company has allotted 2.58 million equity shares to eligible qualified institutional buyers (QIBs) at a price of Rs 1,550 per share.

Around 90 per cent of the market is made up of biscuits and other bakery snacks, including rusks, wafers and tea cakes, which together account for over Rs 51,300 crore.

The operating margin is expected to sustain at 14-15 per cent over the medium-term, supported by various cost rationalisation initiatives and gradual absorption of fixed costs with improved utilisation of incremental capacity, said CRISIL Ratings.