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Burger King India IPO in progress: Price band, lot size and other details

Burger King India garnered Rs 364.5 crore from anchor investors ahead of its IPO on Tuesday

twitter-logoBusinessToday.In | December 2, 2020 | Updated 11:37 IST
Burger King IPO in progress: Price band, lot size and other details
Burger King India IPO: One can bid for the share in a price band of Rs 59-Rs 60 per share. A single bid will contain a minimum of 250 shares equivalent to 1 lot and thereof.

Burger King India has launched its initial public offering (IPO) today.  One can bid for the share in a price band of Rs 59-Rs 60 per share. A single bid will contain a minimum of 250 shares equivalent to 1 lot and thereof.  One can apply for a maximum 18 lots during the share sale which will end on December 4.

The company plans to raise Rs 810 crore through the share sale at the higher end of price band.

The firm garnered Rs 364.5 crore from anchor investors ahead of its IPO on Tuesday. The anchor investors include government of Singapore, Sundaram Mutual Fund, SBI Mutual Fund, Integrated Core Strategies Asia Pte Ltd, HDFC Trustee Company Ltd and ICICI Prudential Mutual Fund.

The offer will comprise a fresh issue of 7.5 crore shares amounting to  Rs 450 crore, while the promoter entity QSR Asia Pte Ltd will sell 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 are managers of the share sale. The company's shares are proposed to be listed on the BSE and the NSE.

Burger King India IPO opens on December 2: Should you subscribe to the issue?

Allotment of shares will be done on December 9 and shares of the firm are likely to be listed on December 14.

As of September 2020, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India, as per the addendum to the draft red herring prospectus (DRHP). 

Burger King IPO: A tasty treat that investors may bite into

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