Tribune News Service
Ludhiana, December 28
As the Initial Public Offering (IPO) of Mrs Bectors Food Specialties opened to a huge success, company’s founder Rajni Bector says that with success comes a huge responsibility.
Mrs Bector Food Specialties had, on December 17, garnered 198 subscriptions to its IPO, generating bids worth Rs 40,000 crore and a market value of Rs 540 crore
“The super success of the IPO has brought bigger responsibilities. Now, the onus is on us to prove ourselves and retain the faith reposed by investors in us. I have told my entire staff to work with utmost dedication and turn work into worship,” Bector told The Tribune here on Monday. The success story of this octogenarian woman from Ludhiana is inspiring. Bector rose from her backyard business with a paltry investment of Rs 300.
She began her in-house baking and ice-cream shop after pursuing a baking course from Punjab Agricultural University (PAU) here in the early 1980s. But till the time her businessman husband bought her a professional ice-cream churner by investing Rs 20,000 in the mid-80s, this tall and rather impressive woman was yet to earn any profit.
The Rs 20,000 investment made her business grow by leaps and bounds. In five years, her brand Cremica, the name derived from the lavish use of cream as a key ingredient in Bector’s delicacies, grew to a remarkable Rs 5-crore turnover. She soon became a household name and her firm clocked a turnover of Rs 20 crore in 1995. Ludhiana became a permanent abode for Bector after she married Dharam Vir at an early age of 17 in 1957. It was in the mid-70s when all three sons of the Bectors – Ajay, Akshay and Anoop – left them for a boarding school in Mussoorie that Bector moved out of her house and took up baking classes at PAU.
Her company’s IPO posted the best listing gain this year after Burger King and Happiest Minds, which gained 130 per cent and 123 per cent, respectively. Basking in the glory of its success in the stock market, the company plans to capitalise on growth in the packaged food industry.