• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Wednesday, August 17, 2022
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Burger King IPO subscribed over 156 times at close; grey market premium rises over 63%

by The Outlooker Web Desk
December 4, 2020
in Business
0
Burger King IPO subscribed over 156 times at close; grey market premium rises over 63%
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

The company reserved up to 75 per cent of the issue for QIBs, 15 per cent for NIIs and 10 per cent for the retail investors.

The Rs 810-crore Burger King India initial public offer (IPO) was subscribed a whopping 156.65 times at the end of the bidding. The issue received bids for 1,166 crore equity shares against the offer size of 7.44 crore shares, according to the data available on the exchanges. The issue was sold in the price band of Rs 59-60 apiece. Even in the grey market, Burger King India shares were seen trading with a Rs 38 premium over the issue price of Rs 60 apiece, implying a 63.33 per cent premium. According to an independent dealer in unlisted shares, last week, the shares were trading at Rs 73 apiece in the grey market, which has now surged to Rs 98 apiece.

Non-institutional investors (NIIs) saw the highest subscription of 354.11 times; while the portion meant for Qualified Institutional Buyers (QIBs) was subscribed 86.65 times; and that for retail investors 68.14 times. The company reserved up to 75 per cent of the issue for QIBs, 15 per cent for NIIs and 10 per cent for the retail investors.

As the Burger King India IPO was priced lower as compared to its peers such Jubilant FoodWorks and Westlife Development, most of the analysts and brokerages recommended to ‘subscribe’ to the issue. At the upper price band, the company is valued at 23.7x EV/EBITDA considering the diluted equity shares which look attractive compared to its listed peers (i.e Westlife development – 37x and Jubilant Foodworks – 38.5x) based on FY20 numbers. “Considering, its robust franchisee model, increasing market and strong store expansion plans would enable the company to improve its growth prospects in the upcoming years,” BP Equities Institutional Research said in its report.

Analysts at KR Choksey Institutional Research said that the operational efficiency and the standard operating procedure will achieve economies of scale resulting in better margins. The changing lifestyle and the eating habits of the youngest millennial population of India will further drive the revenue of Burger King India.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
Dineshwar Sharma, Former Jammu And Kashmir Interlocutor, Dies

Dineshwar Sharma, Former Jammu And Kashmir Interlocutor, Dies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

4 Noida Execs Dead As Heavily-Loaded Truck Overturns On Car Near Gurgaon
National

4 Noida Execs Dead As Heavily-Loaded Truck Overturns On Car Near Gurgaon

August 17, 2022
Jaipur Man Accuses Business Partner Of Raping, Killing His Wife: Police
National

6-Year-Old Girl Raped, Murdered In Haryana’s Panipat, Accused Arrested: Cops

August 17, 2022
Telangana’s K Chandrashekar Rao Slams PM Modi For “Delivering Dialogues” In I-Day Speech
National

Telangana’s K Chandrashekar Rao Slams PM Modi For “Delivering Dialogues” In I-Day Speech

August 16, 2022
MK Stalin’s DMK Goes To Supreme Court, Challenges Definition Of Freebies
National

MK Stalin’s DMK Goes To Supreme Court, Challenges Definition Of Freebies

August 16, 2022

Connect with us

No Result
View All Result

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • 4 Noida Execs Dead As Heavily-Loaded Truck Overturns On Car Near Gurgaon
  • 6-Year-Old Girl Raped, Murdered In Haryana’s Panipat, Accused Arrested: Cops
  • Telangana’s K Chandrashekar Rao Slams PM Modi For “Delivering Dialogues” In I-Day Speech

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.