InvestorQ : How was the listing of the Burger King IPO on its first day of listing?
vaishnavi mhatre made post

How was the listing of the Burger King IPO on its first day of listing?

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vidhya Laxmi answered.
1 month ago
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It was a bumper listing for Burger King and it gave perhaps one of the best listing performances in recent times. Burger King India made an emphatic start and it closed almost more than 100% above its issue price on the first day of listing on 14 December.

On the NSE, the stock listed at a beginning price of Rs.112.50 which was already at a substantial premium of 87.5%. However, there was big trading action on the counter subsequent to the listing as the stock saw 20.6 crore shares transacted on the day-1.

That was hardly surprising because the grey market premium or the GPM had been indicating a strong opening of over 75% premium but the stock did much better than that as it closed in the upper circuit of 20%. At close, the stock was 125% above the issue price.

Most analysts are still positive on the stock as they expect the QSR space to grow at compounded annual rate of 19% over next 5 years. What is noteworthy is that despite the rapid rally in the stock, the profit booking was quite muted. That may leave room for more upsides on the stock.

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