Burger King IPO subscribed 3x on Day 1 on strong retail participation

Topics Burger King | IPOs | Markets

The logo of Burger King is seen outside a shop
Burger King India’s initial public offering was subscribed three times on Wednesday, the first day of the issue. The retail investor portion of the IPO was subscribed 15.6 times, the high networth individual (HNI) and institutional investor portion were subscribed 16 per cent and 70 per cent respectively. 

A day earlier, the company had issues shares worth Rs 365 crore to 55 anchor investors at Rs 60 per share. Burger King India is looking to raise Rs 450 crore from the IPO. 

The proceeds will be used to rollout new stores and repay debt. The IPO will also comprise of secondary share sale worth Rs 360 crore. 

At the top-end of the price band, Burger King will have market capitalisation of Rs 2,290 crore. 

The company competes international QSR chains such as McDonalds, KFC, Domino’s Pizza, Subway and Pizza Hut. Burger King currently operates about 270 outlets. It aims to scale it up to 700 outlets by 2026. The IPO closes on Friday.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel