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Mrs. Bector’s Cremica set to IPO this week: The story behind how a woman entrepr...

 4 years ago
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Mrs. Bector’s Cremica set to IPO this week: The story behind how a woman entrepreneur turned her kitchen-business into a ₹1,000 crore global empire

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2) Rajni Bector is the founder and CEO of Mrs. Bector’s Cremica, a maker of biscuits and bread in India and a key supplier of McDonald’s, KFC and Burger King🍔

Rajni was born in Karachi, and had moved to Delhi with her family post partition

3) She married into a business family in Ludhiana while in college. Like most women then, most of her adult life was spent being a housewife and a doting mother💁‍♀️

However, when the kids left for school, she suddenly found a lot of free time on her hands

4) Out of boredom, she decided to take up her hobby of making ice cream

Rajni was a social person, gathering friends and family around her food for a nice time at home — now these gatherings doubled up as food tastings🥯

5) People loved her food so much that they started coming back to Rajni with catering orders for their functions!

Rajni loved the new interest and purpose she had found

6) With plenty time on her hand, she decided to enroll in a formal baking class at the Punjab Agricultural University, studying the technicalities of baking

Meanwhile, orders from catering wouldn’t stop.

The local-MLA even got her to cook food for a wedding with 2000 guests!

7) Rajni was fulfilling all orders from her home kitchen, which she had set up on a ₹300 budget.

She would end up selling below cost price, ruining tiny batches, and in the process incurring losses.

Commercializing the business was the only way it could work — if at all

9) 1980s India was a tumultuous time — Punjab was hit by violence

The Bector’s 100 year-old fertilizer business was destroyed. Economy of small towns like Ludhiana was ravaged

The Bector family decided it was time to team up and double up on what’s working — the food business.

10) The Bector’s opened their first ice cream retail joint next to Kwality’s — an instant hit in Ludhiana!!

Using those profits they opened an operations facility in the town — finally moving out of the home kitchen.

The upstart became a legit company…

11) Meanwhile, the family began taking an active role in the business, eyeing further expansion.

Cremica commissioned a biscuit plant in Ludhiana in 1991.

Big break came in 1995 — when McDonalds was expanding in India. Cremica became the sole supplier of buns and sauces

12) By 2006, Cremica was cashing in ₹100 crores in revenues, with a 30% consistent growth rate

They were expanding across north-India, supplying to major chain restaurants

Dalal Street was taking notice and big bracket investors including Goldman invested in the business

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