InvestorQ : Can you tell me about the subscription details of the Burger King IPO on the first day of the issue opening?
vaishnavi mhatre made post

Can you tell me about the subscription details of the Burger King IPO on the first day of the issue opening?

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vidhya Laxmi answered.
5 months ago
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The good news for Burger King is the phenomenal response it has got for the retail investors. In fact, Burger King IPO got subscribed to the extent of 3.13 times overall at the end of Day-1 of the issue itself.

As against the total issue size of 7.44 crore shares on offer, the company has already received bids for 23.32 crore shares effectively resulting in 3.13 times oversubscription for the IPO. The QIB portion was oversubscribed 17% and the HNI segment 71% on Day-1.

That is hardly surprising because the HNI portion and the institutional portion normally get filled up only on the last day of the issue, which is Friday. However, the retail portion got subscribed 15.54 times by the end of Day 1.

It may be recollected that the total size of the IPO is Rs.810 crore which includes a fresh issue of shares worth Rs.450 crore and an OFS of Rs.360 crore where the promoter QSR Ltd will be partially exiting its stake.

Burger King currently operates 268 stores in India of which only 8 are franchised and the rest are owned. Burger King has been among the fastest growing names in the Indian context. On Tuesday Burger King had already raised Rs.365 crore from anchor investors.

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