Burger King India IPO subscribed over 150 times1 min read . Updated: 04 Dec 2020, 06:09 PM IST
- Burger King share are proposed to listed on BSE and NSE
- Share allotment is likely to be finalized on 9th December
Burger King India's initial public offer (IPO) was subscribed a whopping 156.65 times as of 5 pm on the final day of subscription. The company's initial public offer (IPO) received bids for 11,66,93,73,500 shares against the total offer size of 7,44,91,524 shares, as per data available with the NSE.
The initial share sale of Burger King had got off to a strong start on Wednesday and was oversubscribed within a few hours of opening for subscription. The initial public offer will see the Indian subsidiary of the US-based Burger King raise ₹810 crore, including a fresh issue of shares worth ₹450 crore.
Price range for the offer was fixed at ₹59-60 per share.
Burger King share are proposed to listed on BSE and NSE. Share allotment is likely to be finalized on 9th December and listing may happen on 14th December 2020, according to brokerages.
Promoter entity QSR Asia Pte Ltd will sell up to 6 crore shares through the IPO. At the upper end of the price band, the sale would fetch ₹360 crore.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the managers to the offer.
Burger King India had on Tuesday raised ₹364.5 crore from anchor investors.
The quick service restaurant (QSR) chain currently operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest are owned by the company.