Burger King IPO | Burger King IPO Date

Burger King IPO | Burger King IPO Date

Burger King IPO

NEW DELHI: Burger King India is all set to open its initial public offer (IPO) on Wednesday, December 2 next week.

The Rs 810 crore offer would comprise of Rs 450 crore of fresh issue and offer for sale of up to 6 crore equity shares by promoter QSR Asia and would be sold in Rs 59-60 price range. At the upper price band, OFS is valued at Rs 360 crore. Here is what you need to know about the IPO:

About the company
As the national master franchisee of the Burger King brand in India, Burger King India has exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India. Its master franchisee arrangement provides it with the ability to use Burger King’s brand name, while leveraging the technical, marketing and operational expertise associated with the global brand. Since starting its first restaurant in November 2014, the company has opened 261 restaurants, including eight sub-franchised Burger King restaurants, across 17 states and union territories and 57 cities across India.

Change in offer size
The company was earlier looking to raise Rs 600 crore through fresh issue. But the company undertook a pre-IPO placement via a rights issue of 1,32,00,000 equity shares to its promoter at a price of Rs 44 per share, aggregating to Rs 58.080 crore. It also made a preferential allotment of 15,712,820 shares to AIL for cash at a price of Rs 58.50 per share, aggregating to Rs 91.92 crore.

The size of the fresh issue of up to Rs 600 crore was thus reduced by Rs 150 crore pursuant to the pre-IPO placement, and accordingly, the fresh issue size is up to Rs 450 crore. Offer for sale size at up to 6 crore shares remained the same.

Burger King IPO Date

Burger King IPO Details

IPO DateDec 2, 2020 – Dec 4, 2020
Issue TypeBook Built Issue IPO
Issue Size135,000,000 Eq Shares of ₹10
(aggregating up to ₹810.00 Cr)
Fresh Issue75,000,000 Eq Shares of ₹10
(aggregating up to ₹450.00 Cr)
Offer for Sale60,000,000 Eq Shares of ₹10
(aggregating up to ₹360.00 Cr)
Face Value₹10 per equity share
IPO Price₹59 to ₹60 per equity share
Market Lot250 Shares
Min Order Quantity250 Shares
Listing AtBSE, NSE

Burger King IPO Tentative Date / Timetable

Bid/Offer Opens OnDec 2, 2020
Bid/Offer Closes OnDec 4, 2020
Finalisation of Basis of AllotmentDec 9, 2020
Initiation of RefundsDec 10, 2020
Credit of Shares to Demat AcctDec 11, 2020
IPO Shares Listing DateDec 14, 2020

Burger King IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum1250₹15,000
Maximum133250₹195,000

Burger King IPO Promoter Holding

Pre Issue Share Holding99.39%
Post Issue Share Holding52.9%

Burger King India IPO to open next week,

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Author: admin