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Shares of Burger King India make a strong debut

Shares of Burger King India make an eye-catching strong debut

By Ashish Mitra --
Monday, 14 Dec, 2020

Shares of Burger King India (BKIL) made a strong debut at the bourses today with the stock of the quick-service restaurant (QSR) nearly doubling against its issue price. The stock listed at Rs 115.35 against its issue price of Rs 60 on the BSE showed a 92 per cent premium.

The stock moved higher as trade progressed and hit Rs 131 levels up 131 per cent from its issue price on the BSE.

On the National Stock Exchange (NSE), the stock hit a high of Rs 119, after opening at Rs 112.50, a 87.5 per cent premium against the issue price.

The QSR chain's Rs 810 crore initial public offer (IPO) received an overwhelming response from investors, with the public offer being subscribed 156.65 times. The issue generated bids for 11.7 billion shares, worth Rs 70,000 crore, as against only 75 million on offer—making it one of the most-subscribed IPOs ever.

The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.

Shares of Burger King India make an eye-catching strong debut . Shares of Burger King India (BKIL) made a strong debut at the bourses today with the stock of the quick-service restaurant (QSR) nearly doubling against its issue price. The stock listed at Rs 115.35 against its issue price of Rs 60 on the BSE showed a 92 per cent premium.

The stock moved higher as trade progressed and hit Rs 131 levels up 131 per cent from its issue price on the BSE.

On the National Stock Exchange (NSE), the stock hit a high of Rs 119, after opening at Rs 112.50, a 87.5 per cent premium against the issue price.

The QSR chain's Rs 810 crore initial public offer (IPO) received an overwhelming response from investors, with the public offer being subscribed 156.65 times. The issue generated bids for 11.7 billion shares, worth Rs 70,000 crore, as against only 75 million on offer—making it one of the most-subscribed IPOs ever.

The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.