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Burger King India share ends 130% higher on listing day

Share of Burger King India ended 130.67% or Rs 78 higher than the issue price at Rs 138.40 on BSE

Aseem Thapliyal | December 14, 2020 | Updated 18:30 IST
Burger King India share ends 130% higher on listing day
Burger King India stock further rose to Rs 138.50, clocking 130.66% gains intra day over issue price on BSE

Burger King India share closed 130% higher to its issue price on its listing day today. Share of Burger King India ended 130.67% or Rs 78 higher than the issue price at Rs 138.40 on BSE. On NSE, the stock closed 125% or Rs 75 higher above its issue price at Rs 135. About 18.67 crore shares of Burger King India changed hands  on NSE. On BSE, 1.9 crore shares changed hands.

The IPO issue price of the firm stood at Rs 60 per share. Earlier, the firm made a stellar debut with its stock listing at 92.25% premium over issue price on BSE. Share of Burger King India opened at Rs 115.35 against issue price of Rs 60.

The stock further rose to Rs 138.50, clocking 130.66% gains intra day over issue price on BSE. Market cap of the firm  rose to Rs 5,282 crore on BSE. It ended 19.98% higher  compared to its opening price.

On NSE, the share opened 87.5% higher at Rs 112.50 against the issue price. On NSE, the share rose up to 125% at Rs 135  in early trade. The share closed 20% higher compared to its opening price on NSE.

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The quick service restaurant chain opened its initial public offering (IPO) on December 2. The share sale, which closed on December 4, was held in a price band of Rs 59 to Rs 60 per share. Shares were available in a lot size of 250 shares and thereof.

The company planned to raise Rs 810 crore through the share sale at the higher end of price band. The offer comprised fresh issue of 7.5 crore shares amounting to  Rs 450 crore, while the promoter entity QSR Asia Pte Ltd sold up to 6 crore shares, aggregating to  Rs 360 crore at the upper end of the price band.

Net proceeds from the fresh issue of shares will be utilised for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes. Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial were managers of the share sale.

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