Burger King India’s preliminary public providing (IPO) will open on Wednesday (December 2) and shut on Friday (December 4). The Indian subsidiary of US-based Burger King has set the value band at Rs 59- Rs 60 per share for its IPO. Burger King’s IPO consists of a recent challenge of Rs 450 crore and a suggestion on the market of 6 crore fairness shares by promoter QSR Asia Pte Ltd.
Here is what you should learn about Burger King India’s IPO:
1. Burger King India’s IPO worth band is 5.9-6 instances of its face worth of fairness shares and the corporate goals to boost Rs 810 crore by way of its public challenge, at the next worth band.
2. Investors can apply for no less than 250 fairness shares and in multiples of 250 fairness shares thereafter. Retail traders can apply for max as much as 3,250 fairness shares at larger worth band.
3. Burger King India had undertaken a pre-IPO placement, by means of rights challenge, of Rs 58.08 crore at a worth of Rs 44 per share to promoter and preferential allotment of Rs 91.92 crore at a worth of Rs 58.50 per share.
4. The firm has reserved as much as 10% portion of IPO for retail traders, as much as 15% for non-institutional traders and as much as 75% for certified institutional traders.
5. The recent challenge dimension has been diminished to Rs 450 crore from Rs 600 crore earlier.
6. Burger King India has mentioned it’s going to use the funds to roll out of latest company-owned Burger King Restaurants by means of compensation or prepayment of excellent borrowings of the corporate obtained for establishing of latest company-owned Burger King Restaurants and capital expenditure incurred for establishing of latest company-owned Burger King Restaurants.
7. Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the ebook working lead managers to the problem. Equity shares are anticipated to debut on bourses round December 14, 2020.
8. Under the Master Franchise and Development Agreement, the corporate has to develop and open at the very least 700 eating places, together with company-owned Burger King Restaurants and sub-franchised Burger King Restaurants, by December 31, 2026, which has lately been prolonged by one 12 months from December 31, 2025, as a result of coronavirus pandemic.
Burger King India’s Rs 810 crore IPO opens tomorrow. Here’s what you should know