Burger King India made a strong debut on the bourses on Monday, December 14. The shares of the quick-service restaurant chain listed at ₹ 115.35 on the BSE, a 92.25 per cent premium over the issue price of ₹ 60. On the NSE, the shares debuted at ₹ 112.50, up 87.5 per cent. At 10:23 am, the shares of Burger King India were trading at ₹ 115.85, higher by 93 per cent on the BSE and ₹ 116.55, up 94 per cent on the NSE.
Among other stellar listings in the recent past, Chemcon Speciality had surged 115 per cent and Happiest Minds Technologies had rallied 111 per cent on Day 1.
Burger King India’s initial public offer, which was open between December 2 and 4, consisted of a fresh issue of equity shares amounting to ₹ 450 crore and an offer for sale worth ₹ 360 crore by the promoter QSR Asia, in the price band of ₹ 59-60 per share.
The primary market offering was subscribed by a whopping 156.65 times, receiving bids exceeding 1,100 crore compared with 7.45 crore shares on offer. The portion reserved for retail investors was subscribed over 30 times, the qualified institutional buyers (QIB) segment was subscribed 24 times and non-institutional investors (NII) category received subscription of 262 times