Burger King India’s Rs 810 crore preliminary public providing (IPO) will open for bidding on December 2. The fast service restaurant chain’s share providing will likely be open from December 2 to December 4 within the value band of Rs 59-60 per share. The shares are prone to be listed on the BSE Sensex and NSE Nifty on December 14.
The Burger King preliminary public provide consists of contemporary subject of fairness shares amounting to Rs 450 crore and a suggestion on the market of Rs 360 crore by the promoter, QSR Asia. The corporate has already raised Rs 91.92 crore in a pre-IPO placement, from Amansa Investments, at a value of Rs 58.50 per share.
The corporate has reserved as much as 10 per cent of the IPO for retail traders, as much as 15 per cent for non-institutional traders and as much as 75 per cent for certified institutional traders.
The retail traders can bid within the public providing for a minimal one lot of 250 fairness shares and in multiples thereafter, as much as 13 heaps.
Burger King India will use proceeds from the first market providing to open company-owned eating places and for common company functions. It intends to open 700 eating places, together with firm retailers and sub-franchised entities, by December 31, 2026.
Burger King India already has 261 eating places unfold over 57 cities, viz. Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and others.
The e-book operating lead managers of the general public subject are Kotak Mahindra Capital Firm, CLSA India, Edelweiss Monetary Providers and JM Monetary, whereas Hyperlink Intime India is the registrar to the problem.