Burger King India Lists At Rs 115.35, A 92% Premium Over Issue Price

Burger King India debuted in the Indian stock markets nearly doubling its listed price on Monday.

Burger King India debuted in the Indian stock markets nearly doubling its listed price on Monday. The stock was trading at Rs 138 per share at the time of writing this story

The Indian subsidiary of the US-based QSR chain Burger King had fixed its issue price at Rs 60 per share. On the Bombay Stock Exchange, the scrip has been listed at Rs 115.35, a 92.35% rise while it has been listed at Rs 112.50 on National Stock Exchange, an 87.75% increase rise.

Burger King India's IPO of Rs 810 crore was subscribed a whopping 156 times during its run from 2 to 4 December. Its Qualified institutional Buyer (QIB) portion was subscribed 86.84 times, its retail segment portion was subscribed 68.15 times while its high net-worth individuals portion was subscribed 354.11 times.

Burger King India has become the fourth IPO in 2020 to be subscribed more than 100 times after the public sector defence manufacturer Mazagon Dock Shipbuilders (157.41 times), IT service provider Happiest Minds (156.65 times) and speciality chemicals manufacturer Chemcon Speciality (149.3 times).

Burger King India's franchise rights are held by QSR Asia, a subsidiary of private equity fund Everstone Capital, who will see their shareholdings decrease to 59.88% from the pre-IPO shareholding of 94.35%. Burger King India had initially planned to go public in March 2020 but put it on hold after the Indian markets fell due to a fear of an impending global slowdown and the COVID-19 pandemic.

Burger King India owns 259 restaurants and nine franchised restaurants in India. It aims to increase its foothold in the country by operating at least 700 restaurants by December 2026.

Updated On: 2020-12-14T16:14:40+05:30
If you value our work, we have an ask:

Our journalists work with TruthSeekers like you to publish fact-checks, explainers, ground reports and media literacy content. Much of this work involves using investigative methods and forensic tools. Our work is resource-intensive, and we rely on our readers to fund our work. Support us so we can continue our work of decluttering the information landscape.

📧 Subscribe to our newsletter here.

📣You can also follow us on Twitter, Facebook, Instagram, Youtube, Linkedin and Google News
Show Full Article
Next Story
Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker. Please reload after ad blocker is disabled.