Burger King makes sturdy debut by admin- Monday, December 14th, 2020 05:01:34 PM
Quick restaurant chain Burger King India indexed at Rs. 112.50 apiece on the NSE, an 87.50% top class over the difficulty fee of Rs. 60 according to share. The stock opened at Rs a hundred and fifteen.35, in opposition to difficulty price of Rs. 60 on the BSE.
The Rs. 810 crore-preliminary public supplying (IPO) of Burger King India had acquired an overwhelming reaction because the offer was subscribed 156.Sixty five times. It obtained over 1,a hundred crore bids in comparison to 7.45 crore shares on offer.
The company’s IPO became open between December 2 and four. The trouble consisted of a clean issue of Rs. 450 crore and a proposal on the market of 6 crore equity shares with the aid of promoter QSR Asia Pte Ltd aggregating to Rs. 360 crore.
The agency fixed IPO fee band at Rs. 59-60 in line with percentage.
Burger King, the second one-largest burger brand globally and is the quickest-growing QSR chain with a goal to reach 700 restaurants by way of the cease of 2026.