Burger King India IPO gets oversubscribed
The initial public offering of Burger King India got oversubscribed within a few hours of opening for subscription on Wednesday. The IPO, which will close on Friday, was subscribed 1.84 times. The price band is Rs 59-60 per share.
Non-Institutional Investors’ category received 19 per cent subscription while the portion reserved for retail individual investors got subscribed 9.83 times, as per data available with stock exchanges till 2 pm.
The IPO will see the Indian subsidiary of the US-based Burger King raise Rs 810 crore, including a fresh issue of shares worth Rs 450 crore.
Promoter entity QSR Asia Pte Ltd will sell up to six crore shares through the IPO. At the upper end of the price band, the sale would fetch Rs 360 crore.
