On Monday, Valiant Mauritius Partners Offshore purchased 2.5 million equity shares of Burger King India, worth Rs 32.57 crore, via bulk deal on the NSE
Stock at Rs 138 verus issue price of Rs 60, was locked in upper circuit for some part of the day, with only buyers and no sellers
The companies had raised Rs 20,300 crore through IPO route in 2019
Business Standard brings you top news of the evening
The company intends to utilise the issue proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes
An upmove above the resistance level of Rs 2,700 may trigger a rally towards Rs 3,000 mark in Jubilant FoodWorks, technical charts suggest
With an over-subscription of 157 times, Burger King India IPO became the second-most subscribed offer in calendar year 2020. The shares are expected to get listed on December 14
Reasonable valuation, steady margin profile are positives
The issue generated bids for 11.7 billion shares, worth Rs 70,000 crore, as against only 75 million on offer, making it one of the most-subscribed IPOs ever
Only 10 per cent of the issue has been reserved for retail investors
Wealthy investor and institutional investor portions subscribed 3.6 times and 2.7 times, respectively; Only 10 per cent of the issue is reserved for retail investors
Retail portion subscribed 15.6 times
Stay tuned for Latest LIVE news updates.
The price band for Burger King India IPO has been set at Rs 59-60 per share
Shares of IndusInd Bank have surged 47% in November - third-most among Nifty companies
Our plan is to open 700 restaurants by December 2026. Right now, we have 268 restaurants in India, says CEO Varman
Proceeds will be used to roll out new outlets, retire debt; Issuer to have market cap of Rs 2,290 cr at upper end of price band
The initial public offering (IPO) will open on December 2, for three days. The price band for the IPO has been set at Rs 59-60 per share
Burger King IPO will remain open till December 4 with a price band of Rs 59-60 per share
Burger King has often found itself in a David and Goliath contest with its unconventional but creative content taking pot shots at its mammoth rival