Burger King India is about to launch its IPO, it will be open for subscription from 2nd December 2020 to 4th December 2020. The price band of the Burger King IPO is set to be Rs 59 – Rs 60. The company is expecting to raise about Rs 810 crore through the share sale at the higher-end which is Rs 60.
There is a fresh issue of Rs 450 crore which comprises 7.5 crore shares and an offer for sale of Rs 360 crore which comprises 6 crore shares that will be sold by the promoter entity QSR Asia Pte Ltd.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are managers of the Burger King India IPO. The company’s shares are proposed to be listed on the BSE and the NSE.
The funds which will be raised from the Burger King IPO will be utilized for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes.
Allotment of Burger King shares will be done on 9th December 2020 and shares of the company are likely to be listed on 14th December 2020. Currently, Burger King IPO GMP suggests bumper listing with a premium of Rs 20.
According to draft red herring prospectus (DRHP), the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India by September 2020.
Burger King IPO Dates & Price Band :
|IPO Open:||02 December 2020|
|IPO Close:||04 December 2020|
|IPO Size:||Approx ₹810 Crore|
|Price Band:||₹59 – ₹60 Per Share|
|Listing on:||BSE & NSE|
Abhishek is the founder of Above Stocks. He manages the News section of our site. Having learned the art of Stock Trading, he is always keen to know the latest updates in the Indian Stock Market and put it down in our news section.