Bectors Food: From a Backyard Enterprise to the Most Successful IPO of 2020

Bectors Food: From a Backyard Enterprise to the Most Successful IPO of 2020
Case Code: LDEN172
Case Length: 14 Pages
Period: 1980-2020
Pub Date: 2021
Teaching Note: Available
Price: Rs.400
Organization : Mrs. Bectors Food Specialities Ltd.
Industry : Food & Beverage
Countries : India
Themes: Entrepreneurial Strategy, Growth Strategy, IPO, Going Public,Women Entrepreneurs
Bectors Food: From a Backyard Enterprise to the Most Successful IPO of 2020
Abstract Case Intro 1 Case Intro 2 Excerpts


The case study “Bectors Food: From a Backyard Enterprise to the Most Successful IPO of 2020” describes how Rajni Bector (Rajni) converted her hobby and passion for ice cream making, baking, and cooking into a commercial success. What began as a backyard enterprise in 1978 grew over the years into a multi-million-dollar family business with a successful IPO in 2020.

The case begins with a brief background of Rajni and her early entrepreneurial journey on how she started her own venture and managed it on her own for a decade with support from her husband. The case then focuses on the growth phase of the business beginning with Rajni’s three sons joining the business and the subsequent partnership with McDonald’s that laid the foundation for its long-term growth and development and helped Bectors Foods become the largest supplier of breading, bakery items, and liquid condiments to major institutional clients all over India.

The case then describes the various steps the company took to create value for the investors and promoters, including seeking private equity participation followed by a restructuring exercise that resulted in the business being split among family members with separate ownership and companies for biscuits, bakery items, and liquid condiments. The case also touches upon how the company sought to generate higher growth and wealth creation for the founders and investors by expanding its manufacturing facilities, introducing new products, and focussing on the retail consumer space as well as the exports route. Subsequently, the case touches upon the need for the company to create a well-established distribution network for greater market penetration and to improve brand recall through customer outreach programs.

The case ends with a focus on Bectors Foods’ successful initial public offering (IPO) in December 2020 and its future strategies to improve market share and compete with major brands in the biscuits segment as well as position itself as a household name pan-India across the biscuits, bakery, and liquid condiments markets.


The case is structured to achieve the following teaching objectives:

  • Learn the importance of passion, vision, and values in building a successful family enterprise
  • Understand the challenges family enterprises face at various points in their business lifecycle.
  • Become aware of the importance of timely funding and capital investments in the growth of a family enterprise.
  • Examine the role of private equity firms in wealth creation for founders and investors.
  • Become aware of the various measures that a family business must put in place to have a successful IPO.



Woman Entrepreneurs; Entrepreneurship; Growth Strategy, IPO; Family Business; Private Equity; Growth Funding; Succession Planning; Brand Strategy; Managing Product Portfolio;

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