Retail offers can be made for a minimum of one lot of 250 shares and in multiples, up to 13 lots.
Burger King India’s initial public offering (IPO) of Rs 810 crore will open for bidding on December 2 and will remain open for three days, until December 4. The quick-service restaurant chain has set the issue price in the price band of Rs 59-60 per share. The shares are likely to go public on December 14.
Burger King’s IPO involves a new 450 million rupee share issue and a 360 million rupee offer to sell by promoter QSR Asia. The company has already raised Rs 91.92 million from Amansa Investments in a pre-IPO placement, at a price of Rs 58.50 per share.
Retail offers for the public offering can be made for a minimum of one lot of 250 shares and in multiples thereafter, up to 13 lots.
Burger King India will use the proceeds from the IPO to open company-owned restaurants and for general corporate purposes. It already has 261 restaurants in 57 cities, including Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and Ludhiana. The restaurant chain plans to open another 700 restaurants approximately by December 31, 2026; These would include points of sale of sub-franchised companies and entities.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the main managers of the public issue, while Link Intime India is the registrar of the issue.
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