Should I apply for Burger King IPO ?

Issue Open : 2-Dec-2020 to 4-Dec-2020

Issue Size : ₹810 Cr (Fresh ₹450 Cr +  OFS ₹360 Cr)

Face Value : ₹10 Per Share

Issue Price : ₹59 – ₹60 Per Share

Market Lot : 250 Shares

Min Application : ₹15,000

Retail : 10% (54,000 Forms)

QIB : 30%

NII : 15%

Listing At : BSE, NSE

Burger King IPO proceeds to help set up new stores, repay term loan (Varman)Trades at over 40% premium in grey market ahead of IPO

·   Our plan is to open 700 restaurants by December 2026. Right now, we have 268 restaurants in India, says CEO Varman

·   Private equity major Ever stone and US fast-food chain Burger King came together to launch the brand in India, in 2014. Since then, Burger King India — owned majorly by Ever stone — has set up 268 restaurants and has plans to add more as it taps the food services potential.

·   Traded in the grey market at more than 40 percent premium over its issue price, ahead of its public offering. Shares are available at a premium of Rs 20-25 in the grey market against issue price of Rs 59-60 per share.

·   At the lower end of price band in percentage terms, the premium comes to 33.9 percent and 42.4 percent over IPO price, while the premium at upper price band comes at 33.3 percent and 41.7 percent. Burger King decided to launch its Rs 810-crore maiden public issue on December 2 and close on December 4.

·   The issue consists of a fresh issue of Rs 450 crore (which reduced from Rs 600 crore earlier due to pre-IPO placement) and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd.

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