Burger King India is all set to float its ₹810 crore IPO next week — Here are the details

• Burger King has set the price band at ₹59-60 per share for its IPO opening on December 2.
• Investors can bid for a minimum of 250 equity shares and thereafter in multiples of 250 equity shares.
• The company is looking to raise ₹810 crore through this IPO, net proceeds would be utilised to roll out of new company-owned Burger King Restaurants and for general corporate purposes.

The competitor of McDonald’s, Burger King, is all set to float its ₹810 crore initial public offering (IPO) on December 2. The Private equity firm, Everstone Group promoted company has set the price band at ₹59-60 per share for its IPO.

Investors can bid for a minimum of 250 equity shares and thereafter in multiples of 250 equity shares — which also means that a retail investor can apply for maximum up to 3,250 equity shares at a higher price band.

The promoter entity QSR Asia will offload 6 crore shares, aggregating to ₹360 crore at the upper price band.

The Indian subsidiary of US-based Burger King is looking to raise ₹810 crore through the IPO, comprising a fresh issue of shares amounting to ₹450 crore. Net proceeds from the fresh issue of shares would be utilised to roll out of new company-owned Burger King Restaurants and for general corporate purposes.

The company has reserved 10% of its offering for retail investors, up to 15% for non-institutional investors and nearly 75% for qualified institutional investors.

The company’s shares are proposed to be listed on both stock-exchanges — the BSE and the NSE. The company said the issue would close on December 4 and allotment of shares will be done on December 9. The stock will debut the bourses on December 14.

Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the book running lead managers to the public issue.

The Burger King brand is the second-largest fast-food burger brand globally as measured by the total number of restaurants. As per the Red Herring Prospectus, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities in India as of September 2020.

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