Mrs. Bectors Food Specialities Ltd. will sell shares at Rs 286-288 apiece in the the biscuit and bread maker’s three-day initial public offering that opens on Dec. 15.

The IPO comprises sale of shares worth Rs 500 crore by Linus Pvt. Ltd., Mabel Pvt. Ltd., GW Crown Pte. Ltd. and GW confectionary Pte. Ltd., and fresh issue worth Rs 40.5 crore.

ICICI Securities Ltd., SBI Capital Markets Ltd. and IIFL Securities Ltd. are the book running lead managers to the issue.

Mrs. Bectors plans to use the proceeds of fresh issue to expand its biscuit factory at Rajpura, Punjab, Anoop Bector, managing director at the company, told BloombergQuint in an interview.

The company has 1% market share in the Rs 38,000-crore Indian biscuit space, with a strong presence in northern India. It competes with Britannia Industries Ltd., Parle Products Pvt. Ltd., ITC Ltd. and Anmol Industries Ltd. Mrs. Bectors is also the largest supplier of buns in India to quick-service restaurant chains including Burger King India, McDonalds and Yum! Restaurants, which runs KFC and Pizza Hut in the country.

Its revenue from operations from April to September stood at Rs 430.90 crore, up 18.2% over a year earlier. Net profit stood in the first half stood at Rs 38.8 crore, a threefold year-on-year jump.

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