Burger King shares may be finalized by 9 December and are expected to be listed by 14 December 2020.
Burger King IPO: Burger King’s IPO will open on December 2 and will close on December 4. The price band of the company’s IPO is fixed at Rs 59-60 per share. Burger King is set to raise Rs 810 crore through its IPO. The company has set aside 10 per cent of the IPO for retail investors. At the same time, 15 percent will be reserved for non-institutional investors. While the remaining 75% will go to qualified institutional investors.
10 important things related to IPO of Burger King
– Lot Size – The lot size of Burger King IPO will be 250 shares. Investors must purchase at least one lot of shares.
-Burger King has a fresh issue of Rs 450 crore in its IPO. Apart from this, the promoter of the company QSR Asia will sell its 6 crore shares, whose value will be Rs 360 crore according to the upper price band.
The company will use this fund to open new stores and repay debt.
Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Limited are the lead managers of the issue.
-Link Intime India Limited is the registrar company of Burger King IPO and will look after the allocation and refund.
-Burger King shares may be finalized by December 9. Its listing is expected by December 14 by 2020.
– In May 2020, Burger King issued a rights issue for pre-IPO placement. Burger King then allotted 1.32 crore shares. Burger King allotted shares to investors at Rs 44 per share and raised Rs 58 crore.
After this, in November 2020, Burger King made another pre-IPO allotment and raised 92 crore rupees. In the second time, the company allotted 1.57 crore shares at Rs 58.5 per share.
After this, the size of the fresh issue was reduced from Rs 600 crore to Rs 450 crore.
Currently Burger King has 268 stores across the country. Of these, 8 are franchises which are at airports and the rest are companies.
