Women entrepreneurs have been breaking barriers, challenging conventions, and achieving extraordinary success through hard work, vision, and innovative ideas. While famous names like Kiran Mazumdar Shaw, and Indira Nooyi are well-known, many other remarkable women have built thriving businesses from the ground up. One such inspiring woman is Rajni Bector, who founded Mrs. Bector Food Specialty Limited. Her journey from starting a business with Rs 20,000 to leading a company valued at over Rs 8,000 crore is a testament to her perseverance and determination.
Rajni Bector was born in 1940 in Karachi (now in Pakistan). Her early years were spent in Lahore, but her life took a drastic turn during the partition of India in 1947. The partition was a period of unprecedented turmoil and displacement, affecting millions of lives. Rajni’s family was among those forced to leave their homes and seek refuge in India. In an interview with Outlook Business, Rajni recalled the harrowing journey her family undertook. They waited under a tree for seven days in Pathankot for a train that never arrived. Eventually, they travelled by goods train, witnessing scenes of unimaginable horror, including many dead bodies along the way. Despite the hardships, Rajni and her family were aided by kind strangers in Punjab who offered food and lassi. Little Rajni, confused by this kindness, asked her mother why these people were helping them, not realizing the shared humanity in times of crisis.
In 1957, at 17, Rajni married Dharamveer Bector, a businessman from Punjab, and moved to Ludhiana. Adjusting to life in Ludhiana, Rajni did not let any challenges deter her. Encouraged by a doctor and supported by her husband, Rajni, in 1978, with an investment of Rs 20,000, established a small cream manufacturing unit which she named Cremica, derived from “Cream Ka.” Her first major success came when she participated in a local fete, where her ice cream outsold Kwality’s, a renowned brand at the time. This success inspired her to take the next step. Cremica’s demand grew steadily as Rajni began making bread and biscuits. In 1985, she registered her company as a private limited entity under the Companies Act 1956.
However, the political instability in Punjab during the ’80s posed significant challenges. The family faced threats, including an abduction attempt on her eldest son. Despite these adversities, Rajni’s resolve only strengthened, and her family decided to focus entirely on the food business by 1990. Rajni’s eldest son joined the business, and a biscuit plant was established in 1991. The partnership with McDonald’s in the mid-’90s marked a significant milestone. Cremica’s collaboration with McDonald’s led to further opportunities, including a venture with Quaker Oats to supply sauces. Although the partnership ended, it introduced Cremica to the world of sauces, further diversifying its product range. The company continued to grow, and in 2006, Goldman Sachs invested in Cremica, highlighting its success.
The company’s growth trajectory reached new heights with its initial public offering (IPO) in 2020. The IPO marked a significant milestone, showcasing the company’s success to the world. Today, Mrs Bector Food Specialty Limited is listed on the Indian stock market with a market cap of Rs 8,339.73 crore. The company has consistently demonstrated strong sales, achieving Rs 762.12 crore in 2020, Rs 880.73 crore in 2021, Rs 988.17 crore in 2022, and an impressive Rs 1400 crore in 2023. On July 11, 2024, the company’s shares closed at Rs 1,414.55 on the BSE and Rs 1,415.35 on the NSE, reflecting its robust market presence. In May 2024, Akshay Bector, Chairman and Managing Director of Cremica Foods Limited, announced plans to raise Rs 500 crore based on a valuation of Rs 2,000 crore, with the company potentially selling 20-30 per cent of its equity.
Rajni Bector’s journey from a refugee during the partition to the owner of a brand worth Rs 8000 crore is nothing short of inspirational. Her story is a testament to resilience, hard work, and the power of determination. Despite facing numerous challenges, she built a successful enterprise that continues to thrive and expand. Her legacy is not just in the products she created but also in the inspiration she provides to countless others. Rajni Bector’s story reminds us that with determination and hard work, even the most challenging circumstances can be overcome, leading to incredible success.
