Burger King Locked In 20% Upper Circuit A Day After Blockbuster Debut
Shares of Burger King were locked in a 20 per cent upper circuit at Rs 162 a day after it made a stellar market debut on Monday. There were a total pending buy orders for 15,88,446 shares on the BSE while there were no sellers on the exchange. The shares of the quick-service restaurant chain got 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.
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.
As of 2:10 pm Burger King shares were locked in upper circuit at Rs 166.
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