Burger King IPO: Last investment opportunity today, got 10 times subscription in two days

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Burger King IPO: Last investment opportunity today, got 10 times subscription in two days

The IPO of the company Burger King India will be closed for subscription today. This issue opened on December 2 and it can be invested only till Friday.

ETMarkets.com|

Dec 04, 2020, 09.58 AM IST

The company has put a price band of Rs 59-60 for the issue. The company has kept a minimum lot of 250 shares and after that only shares can be bid in 250 times.
The IPO of Quick Service Restaurant (QSR) company Burger King India will be closed for subscription today. This issue was opened on December 2 (Wednesday) and money can be invested only till Friday. The company has put a price band of Rs 59-60 for the issue.

Thursday was the second day of the issue. By the end of the second day, the issue was subscribed 9.5 times. On the first day it received a subscription of 3.13 times. In this issue, 75 percent stake has been kept for institutional investors, 15 percent stake for rich investors and 10 percent stake for retail investors.

By the end of the second day, institutional investors’ share was subscribed 2.70 times, rich investors’ share was 3.61 times and retail investors’ share was 37.84 times.

The company has decided to issue fresh shares worth Rs 450 crore in this issue of Rs 810 crore, while promoter QSR Asia can raise up to Rs 360 crore by selling 6 crore shares. A price band of Rs 59-60 has been kept for this issue.

The company has kept a minimum lot of 250 shares and after that only shares can be bid in 250 times. A retail investor can bid for a maximum of 13 lots i.e. 3,250 shares.

The proceeds from the issue will be used to open new stores and pay down debt for the company. By 31 December 2026, the company wants to open 700 restaurants of Burger King across the country. Due to Corona virus, this period has been extended by one year from 31 December 2025.

Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial are the management of the issue. The company’s shares can be listed on December 14.

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Topic

Burger King IPO

Share Market

Kotak Mahindra Capital

Burger king india

Burger King

JM Financial

IPO

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