MOST WEDDING FEASTS of the early 1980s in the northern part of the country—think Punjab, Haryana, and thereabouts— would typically have a set of flavours in common: that of Rajni Bector’s ice creams, puddings, and salads with her signature dressings.
As she proudly proclaims, in the catering business world of Punjab and Haryana, she was the sole supplier of Western desserts and salads.
“I was catering to thousands of weddings in Ludhiana, Jalandhar, Amritsar, Ambala, and even Delhi, Dehradun, and Saharanpur. Back then there were no caterers who could provide these items to weddings and parties,” says Rajni Bector, founder and non-executive director, Mrs Bectors Food Specialities Limited.
Four decades later, the biscuit-and-bakery firm started in her home kitchen in Ludhiana, Punjab is India’s leading supplier of buns to quick-service restaurant (QSR) chains such as McDonald’s, Burger King, KFC, and Carl’s Jr. To boot, the company's541-crore blockbuster initial public offer (IPO) on the bourses (BSE and NSE) last December was oversubscribed by 198 times on the final day of bidding on December 17, reveals stock exchange data.
It reported the highest subscription among IPOs last year, outpacing the subscription figures of defence company Mazagon Dock Shipbuilders and Burger King India.
The company is also the second-largest exporter of biscuits in the global market, says Sagarika Mukherjee, vice president at Elara Capital. “The fact that they are contract manufacturers for Oreo biscuits [owned by snack-food giant Mondelez] is a testament of their quality,” she says. Mrs. Bectors Food manufactures Oreo biscuits and Cadbury Chocobakes cookies on a contract basis for Mondelez India Foods which owns brands such as Cadbury, Bournvita, Halls, and Tang.
FROM THE KITCHEN TO THE BOURSES
Rajni Bector started the company in 1978. She set up a small unit in the backyard of her house with an initial capital of ₹20,000. Today it is one of India’s leading biscuits and bread manufacturers.
THE INITIAL YEARS
The business started expanding in a short span and in 1985 she invested ₹50,000 to set up a bread unit in Punjab which could bake 5,000 loaves a day, followed by an automated line for 50,000 loaves in 1989.
THE TURNING POINT
In 1996, the company started supplying buns to McDonald’s along with ketchup, toppings, and other condiments. The American fast-food giant was impressed with the production quality, systems, and processes of the Ludhiana-based company.
ATTRACTING INVESTORS
In 2006, Goldman Sachs, through its Mauritius-based unit Jade Dragon, picked up a stake in the company. In 2010, the global investment bank exited the business, selling its stake to Motilal Oswal Private Equity (MOPE).
NEWER INVESTORS
In 2015, Ajay Bector (Rajni Bector’s eldest son) and MOPE sold their stakes to private equity firms CX Partners and Gateway Partners.
BLOCKBUSTER IPO
Mrs Bectors Food Specialities reported the highest subscription among IPOs last year, outpacing defence company Mazagon Dock Shipbuilders and Burger King India.
HOW DID A FAMILY-RUN business from Punjab become a national player, and make it to No.363 on the Fortune India Next 500 list this year? The answer lies in the intrepidness of its founder, Rajni Bector.
Continue reading your story on the app
Continue reading your story in the magazine
The Most Prepared Woman in Washington
TRAILBLAZING TREASURY SECRETARY JANETYE YELLEN IS RENOWNED AMONG PEERS FOR HER ME TICULOUS RESE ARCH AND RELENTLESS FOCUS. AS THE B IDEN ADMINISTR ATION ’S ECONOMIC POINT PERSON, THE FORMER FEDER AL RESERVE CHAIR IS NOW CHARGED WITH STABIL IS ING AND STIMUL ATING AN ECONOMY R AVAGED BY THE PANDEMIC. AND THAT’S JUST THE BEGINNING OF HER AMBITIOUS AGENDA .
The Conversation AJAY BIJLI
Covid-19 impacted many businesses, with one of the hardest hit being movie halls. This included PVR, India’s largest multiplex chain. However, it was able to raise funds during the pandemic, says chairman Ajay Bijli. The 54-year-old says his company is now in its revival phase and he isn’t overly worried about movies directly releasing on OTT platforms. He also talks about what keeps him going.
THE BRIEF BUSINESS DISTILLED
Boom in the Time of a Pandemic A year after the onslaught of the global pandemic, FPI inflows, corporate performance, and news of the vaccines were key to the Indian equity markets’ immunity against Covid-19. BY RAJIV BHUVA
THE BIG E-SCOOTER
OLA ELECTRIC HAS UNVEILED A S FOR A ME A FACILITY THA WILL MAK ONE E-SCOOTER EVERY TWO SEC NDS. OLA HAS SET I S SIGH S ON CONQUERING THE WORLD, BUT BEFORE THAT, IT HAS TO CON END WITH LOCAL RIVALS AND INDIA’S ANAEMIC ELECTRIC VEHICES LES.
SERVICE BEGINS AT HOME
HOME AND SALON SERVICES PROVIDER URBAN COMPANY’S REVENUES DROPPED TO NEARLY ZERO DURING THE LOCKDOWN. BUT, NOW, BUSINESS IS BOOMING. IT HAS SINCE SERVED 5 MILLION CUSTOMERS, AND HAS ITS EYES SET ON AN IPO IN THE NEXT FEW YEARS.
IT'S BACK TO OFFICE
IN INDIA, THERE ARE MANY FACTORS AT PLAY WHICH MAKES THE OFFICE CRITICAL FOR EMPLOYEES AND COMPANIES. THAT SAID, THE COVID-19 PANDEMIC HAS IRREVERSIBLY CHANGED THE WAY COMPANIES AND PEOPLE VIEW THE OFFICE.
COLD-BLOODED
ELON MUSK IS NOT ABOUT TO LET A FEW ENDANGERED REPTILES THROW A WRENCH INTO TESLA’S PLANS FOR A GERMAN GIGAFACTORY— AND EUROPEAN DOMINATION.
Luxury Hotels To Call Home This Summer
A luxury hill resort can be the perfect summer getaway. Here we bring you a list of some hotels to make your vacation memorable.
Check Into The New Normal
One year after the pandemic hit the hospitality industry like a tsunami, the experience of going to a hotel has radically changed. From extensive usage of technology to ensure a zero-touch policy to completely overhauling old business strategies and making them anew, hotels have imbibed new learnings and are forging ahead.
To Tweet, Or To Koo? That Is The Question
Home-grown microblogging platform Koo—which provides non English speakers a platform to express themselves—is the flavour of the season. But will it prove to be a viable alternative to Big Tech and other domestic platforms?
योगी के अंकुश में डॉन
पंजाब में पिछले 26 महीने से रूपनगर की जेल में रह रहे बाहुबली व गैंगस्टर मुख्तार अंसारी को सर्वोच्च न्यायालय के आदेश पर उत्तर प्रदेश पुलिस के हवाले कर दिया गया है.
Explained: B.1.617 variant and the surge
Genome sequencing data have presented evidence of the 'double mutant' in 61% of samples in Maharashtra. But whether this new variant is driving India's ongoing surge can be said only after more data is available.
डॉन की उल्टी गिनती
गैंगस्टर-नेता मुख्तार अंसारी को पंजाब से यूपी की जेल भेजा जाना योगी सरकार की जीत के तौर पर देखा जा रहा है. इस पर आगे की राजनीति के पत्ते कैसे खुलेंगे?
Managing Air pollution From Crop Burning
The perils of crop-residue burning contribute to major environmental degradation. In this article, TCA Avni and Sunil Dhingra discuss how the practice of stubble burning is responsible for poor air quality and loss of agricultural biodiversity. They highlight the importance of managing paddy residue and offer sustainable solutions, incentives, and alternatives to crop burning.
‘ON AIR' with the gems of MY FM
Coming to their stations, bursting with energy and ideas, Radio Jockeys have something new for their audiences every day. Where some start your day with their cheerful voice and charisma, others might make you smile when you are feeling dull and low. We all have heard these RJs spreading joy through their voice. Where some always wanted to choose this path as their career, it happened by chance for others. MY FM, Punjab’s leading radio station has a number of quirky gems in their team. Nikita Agarwal talks to some of the RJs from MY FM about their journey and their everyday experiences.
IPL 2021: केकेआर, पंजाब किंग्स, सीएसके और राजस्थान रॉयल्स की ये है सबसे बड़ी ताकत और कमजोरी
अगर भारत के पास वास्तव में इतनी अच्छी बेंच स्ट्रेंथ है तो क्यों न दो टेस्ट टीम एक साथ बना लें और दोनों रवेलें?
मुख्तार अंसारी को लेकर बांदा जेल पहुंची उत्तर प्रदेश पुलिस
उत्तर प्रदेश पुलिस ने करीब दो साल पंजाब की जेल में रहे बहुजन समाज पार्टी (बसपा) के विधायक एवं गैंगस्टर मुख्तार अंसारी को बुधवार तड़के कड़ी सुरक्षा के बीच बुंदेलखंड की बांदा जेल में स्थानांतरित किया।
Ansari Back In Banda Prison, Kept In Isolation
The much-hyped shifting of gangster-turned-politician and sitting BSP MLA Mukhtar Ansari from Punjab’s Ropar Jail culminated at barrack number 16 of the Banda Jail in Uttar Pradesh amid tight security at 4.50 am on Wednesday.
वापसी : मुख्तार अंसारी अभेद्य सुरक्षा के बीच यूपी लाया गया
यूपी पुलिस मंगलवार को मुख्तार अंसारी को लेकर पंजाब के रूपनगर से कड़ी सुरक्षा में बांदा के लिएरवाना हुई। देररात उसे यूपी लाया गया।
Many states, UTs close schools following fresh Covid surge
Delhi, Gujarat, TN announce closure of schools for an indefinite period