Mrs. Bector’s Food & Sansera Engineering Get SEBI Nod for IPO
Two companies of two different sectors have received regulatory nods to float initial public offerings (IPOs). Those two companies are biscuit maker Mrs. Bector's Food Specialties and automotive and aerospace component manufacturer Sansera Engineering.
With this approval, SEBI has agreed upon a total of 65 IPO proposals in 2018. However, last year, it had cleared 46 proposals.
Mrs. Bector's Food is a Ludhiana based food company and it filed its draft proposal on 13 August. The company counts firms like CX Partners and Gateway Partners as its backers.
The IPO demanded a sale of shares worth Rs 800 crore by promoter Ajay Bector and CX Partners and Gateway Partners. It will result in 26-27% stake dilution, valuing the biscuit maker at Rs 3,000 crore ($428 million).
CX Partners and...