Burger King India made a strong debut on the bourses on Monday, December 14. The shares of the quick-service restaurant chain listed at Rs 115.35 on the BSE, a 92.25 per cent premium over the issue price of Rs 60. On the NSE, the shares debuted at Rs 112.50, up 87.5 per cent. At 10:23 am, the shares of Burger King India were trading at Rs 115.85, higher by 93 per cent on the BSE and Rs 116.55, up 94 per cent on the NSE.
Among other stellar listings in the recent past, Chemcon Speciality had surged 115 per cent and Happiest Minds Technologies had rallied 111 per cent on Day 1.
Burger King India's initial public offer, which was open between December 2 and 4, consisted of a fresh issue of equity shares amounting to Rs 450 crore and an offer for sale worth Rs 360 crore by the promoter QSR Asia, in the price band of Rs 59-60 per share.
The primary market offering was subscribed by a whopping 156.65 times, receiving bids exceeding 1,100 crore compared with 7.45 crore shares on offer. The portion reserved for retail investors was subscribed over 30 times, the qualified institutional buyers (QIB) segment was subscribed 24 times and non-institutional investors (NII) category received subscription of 262 times.
Burger King India is the national master franchisee of the Burger King brand in India and therefore has exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India. It has 261 restaurants spread across 57 cities such as Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and Ludhiana.
Burger King India will use proceeds from the equity sale to open company-owned restaurants and for general corporate purposes. The restaurant chain plans to open around 700 restaurants, including company outlets and sub-franchised entities, by December 31, 2026.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
