Posted on 20-12-2020 by Admin
Burger King became a company worth Rs 5000 crore as soon as it was listed in the stock market, the money of those investing in IPO doubled.Burger King India, the Indian arm of US-based quick service restaurant chain Burger King, was listed on BSE and NSE on Monday. Burger King shares have made their investors rich. The company s stock is trading around Rs 131 on BSE as compared to its issue price of Rs 60. With this, the company s market cap reached Rs 5000 crore.
Burger King India IPO has become a blockbuster for investors. Burger King shares again have an upper circuit of 20 per cent in Wednesday s trading. Today, with a rise of 20 percent, the share price has reached Rs 199. Earlier on Tuesday too, Burger King had hit an upper circuit of 20 per cent and the share price had closed at Rs 166.
The wealth of investors in Burger King had increased to close to Rs 7604 crore. When the stock was listed on Monday, the market cap of the company was around Rs 4460 crore. That is, since the listing, the wealth of investors has increased to around 3200 crores.
Burger King India had a great listing on the stock market on Monday. Burger King shares were listed on BSE at a 92 percent premium. The issue price of the stock was Rs 60, while it was listed at Rs 115, up by Rs 55. The stock is also listed at Rs 112 on the NSE. The price band of Burger King IPO was fixed at Rs 59-60 per share. In this sense, investors money has almost doubled on the listing itself. At the same time, on the day of listing, the stock had closed more than 100 percent above the issue price at Rs 138.
The company opened its first restaurant in India in November 2014. Today Burger King has 268 stores in 57 cities across the country. Out of these, there are 8 franchises which are at airports. The company will use this fund from the IPO to open new stores and repay debt. Burger King s IPO was a great response from investors.
The issue received 354 times bids. The issue of Burger King is the second most subscribed issue in this year i.e. 2020. The issue was subscribed 100 percent within 2 hours of opening