New Delhi 14 : Burger King India IPO: Shares of quick-service restaurant (QSR) major Burger King India made a stellar debut on the BSE and National Stock Exchange (NSE) today.
The scrip got listed at Rs 115.35 apiece on the BSE, nearly doubling from its offer price of Rs 60. On the NSE, it debuted at Rs 112.50.
So far in the day, the stock has hit a high of Rs 119.50 on the BSE and Rs 119.40 on NSE. Over 56.34 lakh shares have exchanged hands on the BSE while over 8.01 crore shares were traded on the NSE, data from the respective stock exchanges showed.
The Rs 810 crore IPO of Burger King India had received a robust demand during its offer period from December 2-4. The issue was oversubscribed a whopping 156.65 times. The fast-food giant saw 86.64 times subscription from the qualified institutional buyers (QIBs), while the non institutional investors subscribed it a whopping 354.11 times and retail individual investors (RIIs) subscribed the offer 68.15 times.
Before the beginning of the IPO, it saw Rs 364.5 crore come from anchor investors on December 1.
The funds raised will mainly be utilised for the expansion of company-owned stores across the country and paying off debts. At present, Burger King has a strong presence in the north, followed by the west, south and eastern parts of the country.
Burger King India’s IPO was the second most subscribed offering this year after Mazagon Dock Shipbuilders which was subscribed 157.41 times.
(TIE)
