Live
- Malaria cases, deaths in India decline by 69pc between 2017-2023: WHO
- ED raids three places in Bengal in online forgery scam case
- Manchu Manoj Questioned by Police Amid Family Dispute
- Bengaluru: IMD Issues Yellow Alert Amid Upcoming Rainfall
- Manchu Vishnu Addresses Media, Clarifies Incident Involving Mohan Babu
- HPCL inks pact with Sea6 Energy to convert seaweed biomass into fuels
- Numaish 2025: Hyderabad’s Grand Exhibition Kicks Off in January – All You Need to Know
- There will be opportunities from every crisis, says CM Chandrababu at collectors' conference
- Women now own 20.5 pc of MSMEs in India, startups surge in tier 2 and 3 cities
- 9 in 10 Indian firms say cloud transformation fuelling AI adoption: Report
Burger King IPO: Opens tomorrow; Key details you should know before subscribing
Burger King IPO: Opens tomorrow; Key details you should know before subscribing (Photo/AP)
India's the quick-service restaurant chain Burger King is set to open its maiden public issue on Wednesday, December 2, 2020.
India's the quick-service restaurant chain Burger King is set to open its maiden public issue on Wednesday, December 2, 2020. The Rs 810 crore initial public offering (IPO) will close on Friday, December 4, 2020, and is listing of the equity shares is expected to be on Monday, December 14, 2020.
Through the public issue, Burger King seeks to raise Rs 810 crore at the higher price band. The public issue consists of a fresh issue of Rs 450 crore and an offer for sale of 360 crore equity shares by promoter QSR Asia Pte Ltd. The company will not receive any proceeds from the offer for sale. All the money will go to the promoter selling shareholder. The company has already raised Rs 91.92 crore in a pre-IPO placement, from Amansa Investments, at Rs 58.50 per share
The IPO price has been fixed at Rs 59-60 per share, which is 5.9-6 times its face value of equity shares. Investors can put bids for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter, up to 13 lots.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the book running lead managers to the Burger King issue.
The net proceeds from the IPO will be used to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.
Burger King
Founded in 1954, Burger King is the second-largest fast-food hamburger chain in the world. Burger King is India's fastest growing quick-service restaurant chains. It has an exclusive right to establish, develop and operate Burger King branded restaurants in India.
