Burger King India IPO To Open On December 2; Issue Price Fixed at Rs 59-60 Per Share

Burger King India's Rs 810 crore initial public offering (IPO) will open for bidding on December 2. The quick service restaurant chain's share offering will be open from December 2 to December 4 in the price band of Rs 59-60 per share. The shares are likely to be listed on the BSE Sensex and NSE Nifty on December 14.

The Burger King initial public offer includes fresh issue of equity shares amounting to Rs 450 crore and an offer for sale of Rs 360 crore by the promoter, QSR Asia. The company has already raised Rs 91.92 crore in a pre-IPO placement, from Amansa Investments, at a price of Rs 58.50 per share.

Also Read: Burger King India IPO To Open For Bidding On December 2

The company has reserved up to 10 per cent of the IPO for retail investors, up to 15 per cent for non-institutional investors and up to 75 per cent for qualified institutional investors.

The retail investors can bid in the public offering for a minimum one lot of 250 equity shares and in multiples thereafter, up to 13 lots.

Burger King India will use proceeds from the primary market offering to open company-owned restaurants and for general corporate purposes. It intends to open 700 restaurants, including company outlets and sub-franchised entities, by December 31, 2026.

Also Read: Burger King India Files IPO Papers

Burger King India already has 261 restaurants spread over 57 cities, viz. Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and others.

The book running lead managers of the public issue are Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial, while Link Intime India is the registrar to the issue.