In a remarkable market debut, Burger King India’s stock surged nearly 131% on Monday from its issue price of Rs 60.
The shares opened at 115.35 rupees, a whopping 92.25 percent premium to BSE’s issue price. It then closed at Rs 138.40, a gain of 130.66 percent.
On the NSE, it jumped 125 percent to close at Rs 135 after opening at Rs 112.50, an increase of 87.5 percent.
The company’s market valuation was Rs 5,282.10 crore on the BSE at close of business.
In terms of volume traded, 191.55 lakh shares were traded on the BSE and more than 18.67 crore on the NSE during the day.
The Burger King India share sale was subscribed 156.65 times earlier this month.
The price range for the initial public offering (IPO) of Rs 810-crore was set at Rs 59-60 per share.
The quick service restaurant chain currently operates 268 stores in India and of these, eight are franchises, located mainly in airports, while the rest are company-owned.
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