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Burger King IPO Debut Today: Burger King India has got a great listing in the stock market. Burger King shares were listed on BSE at a 92 percent premium. The issue price of the stock was Rs 60, while it was listed at Rs 115, up by Rs 55. The stock is also listed at Rs 112 on the NSE. The price band of Burger King’s IPO was fixed at Rs 59-60 per share. In this sense, investors’ money has almost doubled on the listing itself. The lot size of Burger King’s IPO was 250 shares. That means investors had to invest at least Rs 15,000 in it.
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Shares lightly weak after listing
There is a slight weakness in Burger King shares after listing. The stock has come down by about 2.5 per cent to Rs 108.40. Right now the stock is trading 2.3 per cent weaker at Rs 112.70. At the same time, there is still an increase of Rs 52.70 from the issue price. The current market cap of the company is Rs 4,459.63 crore.
Investors got a strong response
Burger King’s IPO opened on December 2 and closed on December 4. During this time the issue received 354 times bids. The issue of Burger King is the second most subscribed issue in this year i.e. 2020. The issue was subscribed 100 percent within 2 hours of opening. In view of this response, it was expected to be listed at a premium. The company had set aside 10 per cent of the IPO for retail investors. At the same time, 15 per cent was reserved for non-institutional investors. While the remaining 75 per cent was reserved for qualified institutional investors.
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268 Burger King Stores in India
The company opened its first restaurant in India in November 2014. Today Burger King has 268 stores in 57 cities across the country. Out of these, there are 8 franchises which are at airports. The company will use this fund from the IPO to open new stores and repay debt.
Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Limited are the lead managers of the issue. Link Intime India Limited is the registrar company of Burger King IPO and will look after the allocation and refund.
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