Burger King IPO’s share allotment to be finalised today
By Administrator_ India
The initial public offering (IPO) of Burger King India received an overwhelming response from the retail investors. Burger King received 15.54 times subscription from retail investors on the very first day, while Happiest Minds received 14.6 times and Chemcon Speciality Chemicals received 9.8 times. Burger Kings’ Rs 810-crore issue was subscribed 3.13 times on December 2 despite a volatile market, becoming one among the six IPOs that got fully subscribed on Day 1. The huge response from retail investors helped them achieve this. Let’s take a look at the six IPOs that were fully subscribed on Day 1.
Quick service restaurant chain Burger King India’s initial public offering received stellar response from investors and now they are waiting for the allotment.
The company, in consultation with merchant bankers, will finalise the basis of allotment on December 9, as per the tentative schedule available in the IPO prospectus.
Thereafter, the process of unblocking of funds from ASBA account will take place on December 10 and eligible investors will get shares credited into their accounts around December 11, while these shares will debut on bourses on December 14.
Investors need to select Equity, select Issue Name (Burger King India), enter Application Number as well as PAN, and click on search button.
Once the abovementioned information provided by an investors is correct, they will see the application status. Investors can see the number of shares subscribed to during the IPO and the shares alloted on the page.
Burger King India’s IPO has received strong 156.6 times subscription during December 2-4, which in fact was the second highest subscription in 2020.
The Indian subsidiary of second largest fast food burger brand globally, raised Rs 810 crore via public issue which comprised a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia.
The company having 259 restaurants as of November 25 this year, targets to increase restaurants count to 700 by December 2026.