Upcoming IPO In December 2020: Burger King India, a quick service restaurant chain, which is expected to launch its IPO for subscription next week. The company has fixed IPO price-band at Rs 59-60 per share, which is 5.9-6 times of its face value of equity shares.
The IPO will open on 2nd December 2020 and close on 4th December, 2020.
The IPO consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd.
The Indian subsidiary of US-based Company Burger King aims to raise Rs 810 crore via its IPO, at a higher price band.
Upcoming IPO In December 2020: Burger King India IPO Open In Next Week
The company had undertaken a pre-IPO placement, by way of rights issue, of Rs 58.08 crore at a price of Rs 44 per share to promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share.
Hence, as a result, the fresh issue size has been reduced to Rs 450 crore from Rs 600 crore earlier, as per the advertisement of IPO published in newspapers.
The company would utilise fresh issue proceeds for funding roll out of new company-owned Burger King Restaurants and general corporate purposes.
Under the Master Franchise and Development Agreement, the company is required to develop and open at least 700 restaurants (including company-owned Burger King Restaurants and Sub-Franchised Burger King Restaurants) by 31st December, 2026, which has recently been extended by one year from December 31, 2025 due to the COVID-19 crisis.
Burger King IPO Dates & Price Band:
| IPO Open: | 02 December 2020 |
| IPO Close: | 04 December 2020 |
| IPO Size: | Approx ₹810 Crores |
| Face Value: | ₹10 Per Equity Share |
| Price Band: | ₹59 to ₹60 Per Share |
| Listing on: | BSE & NSE |
| Retail Portion: | 10% |
| Equity: | 13,50,00,000 Shares |
Burger King IPO Market Lot:
| Minimum Lot Size: | Apply for 250 Shares |
| Minimum Amount: | ₹15,000 |
| Maximum Lot Size: | Apply for 3250 Shares |
| Maximum Amount: | ₹1,95,000 |
Burger King IPO Allotment & Listing:
| Basis of Allotment: | 09 December 2020 |
| Refunds: | 10 December 2020 |
| Credit to Demat Account: | 11 December 2020 |
| Listing Date: | 14 December 2020 |
Bids can be made for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter. It means retail investors can apply for maximum up to 3,250 equity shares at higher price band.
The company has reserved up to 10 % portion of IPO for retail investors, upto 15% for non-institutional investors and up to 75% for qualified institutional investors.
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