Burger King India IPO Subscribed Over 156 Times On Last Day Of Share Sale
Investors seem to have fully savoured the Burger King India IPO, with the initial share sale getting subscribed 156.65 times on the last day of the offer.
The portion meant for qualified institutional buyers was subscribed 86.64 times, non-institutional investors 354.11 times and retail individual investors 68.14 times. The initial public offering was fully subscribed within a few hours of launch Wednesday.
The Rs 810-crore Burger King India IPO included a fresh issue of shares worth Rs 450 crore at a price band of Rs 59-60 apiece. Promoter entity QSR Asia Pte 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.
The quick service restaurant chain currently operates 268 stores in India, out of which eight are franchises and the rest are owned by the company.