Connect with us

Business

Burger King India’s initial public offer (IPO) Opens For Bidding Today

The shares will be listed on the BSE Sensex and NSE Nifty indices on December 14

Burger King India’s Rs 810 crore initial public offering (IPO) will open for bidding on December 2. The much-awaited IPO will remain open for subscription until December 4. The quick-service restaurant chain has fixed the issue price at Rs 59-60 per share. The shares will be listed on the BSE Sensex and NSE Nifty indices on December 14.

Burger King India’s public offering includes fresh issue of equity shares amounting to Rs 450 crore and an offer for sale of Rs 360 crore by the promoter QSR Asia. The restaurant chain has already raised Rs 91.92 crore from Amansa Investments in a pre-IPO placement, at a price of Rs 58.50 per share.

Investors can bid for a minimum one lot of 250 equity shares and in multiples thereof, extending up to 13 lots.

Burger King India will use proceeds from the primary market offering to open company-owned restaurants and for general corporate purposes. It already has 261 restaurants across 57 cities, including Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and Ludhiana. The restaurant chain plans to open another 700 restaurants approximately by December 31, 2026; these would include company outlets and sub-franchised entities.

Newsbeep

Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the book running lead managers of the public issue, and Link Intime India is the registrar to the issue.

Burger King’s is the 13th initial public offer so far this year.

“While the COVID-19 crisis have impacted short term growth, we believe the company remains well placed for long term growth, given its strong brand position, diverse food offerings, well established supply chain, aggressive expansion plans, cost management efforts and benefit from the gradual recovery in the QSR industry post COVID. As such, we recommend subscribe to this IPO,” brokerage firm Anand Rathi recently said in a research report.

Source link