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Home >Markets >Ipo >Burger King makes strong debut, share prices more than double on listing

Shares of Burger King India made a strong debut on BSE and NSE today. Shares more than doubled to settle at 138.40 as compared to issue price of 60. The 810 crore Burger King IPO, which had got a whopping response from investors, had opened for subscription on December 2 at a price band of 59-60 per share. It was subscribed over 156 times.

Currently, Burger King shares were trading to 110 on NSE.

In fact, the initial share sale got oversubscribed within a few hours of opening for subscription on December 2. The portion meant for qualified institutional buyers (QIBs) was subscribed 86.64 times, non-institutional investors 354.11 times and retail individual investors (RIIs) 68.15 times.

The IPO included a fresh issue of shares worth 450 crore. Burger King India had raised 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 (QSR) 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.

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Meanwhile, the IPO of bread and biscuits maker Mrs Bectors Food Specialities will hit the capital markets on December 15 and will close on December 17. The price band has been fixed at 286-288 per equity share of a face value of 10 each. The IPO would comprise of a fresh issue of equity shares worth 40.54 crore and an offer for sale (OFS) by existing shareholders worth 500 crore.

The minimum bid lot is 50 equity shares and multiples of 50 equity shares thereafter.

Mrs Bectors Food also supplies buns to various international QSR chains in India, such as Burger King India Private Limited, Connaught Plaza Restaurants Private Limited, Hardcastle Restaurants Private Limited, and Yum! Restaurants (India) Private Limited. (With Agency Inputs)

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