Burger King India’s share debut becomes biggest since 2017
The stock began trading at 115 rupees versus an offer price of 60 rupees and climbed to a high of 138.40 rupees at close of trade
Burger King India Ltd. surged 131% on its first day of trading, the latest successful debut after a spurt of technology company listings helped boost India’s initial share sale pipeline.
The operator of Burger King-branded restaurants in India saw demand nearly 157 times more than the number of shares in its initial public offering earlier this month. With restaurants open for business post-lockdown and vaccines on the way, investors are betting that Indians will soon be thronging fast food chains.
The stock began trading at 115 rupees versus an offer price of 60 rupees and climbed to a high of 138.40 rupees at the 3:30 p.m. close of trade in Mumbai. The debut is the best since 2017 when Astron Paper & Board Mill Ltd. jumped 142%.
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