Burger King India’s IPO Opens For Bidding Today

0
131

Burger King India’s ₹ 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 ₹ 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 ₹ 450 crore and an offer for sale of ₹ 360 crore by the promoter QSR Asia. The restaurant chain has already raised ₹ 91.92 crore from Amansa Investments in a pre-IPO placement, at a price of ₹ 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.

READ  Stamp Duty Cut Could Provide Festive Season Boost