Burger King India To List On Bourses On Dec. 14
Burger King India, which recently concluded its Rs 810-crore initial public offering, will make its debut on the stock exchanges on Monday.
The equity shares will be listed on the BSE and the National Stock Exchange. "Effective from Monday, Dec. 14, 2020, the equity shares of Burger King India Ltd. shall be listed and admitted to dealings on the exchange in the list of 'B ' Group of Securities," BSE said in a circular on Friday.
The IPO, which opened for subscription from Dec. 2, was subscribed over 156 times at a price band of Rs 59-60 per share. The initial share sale got oversubscribed within a few hours of opening for subscription on Dec. 2.
The portion meant for qualified institutional buyers (was subscribed 86.64 times, non-institutional investors 354.11 times and retail individual investors 68.15 times. The IPO included a fresh issue of shares worth Rs 450 crore.
Besides, promoter entity QSR Asia Pvt. Ltd. sold up to 6 crore shares through the IPO. At the upper end of the price band, the sale fetched Rs 360 crore. Burger King India had raised Rs 364.5 crore from anchor investors. Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services, and JM Financial were the managers to the offer.
Currently, the quick service restaurant chain operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest are owned by the company.