Burger King India IPO: Key Details

 The much-awaited Burger King IPO hit the market on December 2, attracting nearly 157 times
subscription so far on the final day of bidding which includes receiving bids for 1,166 crore equity
shares against an offer size of 7.44 crore shares

 The price band allotment for the IPO has been fixed at Rs. 59-60 per share for the Rs. 810 crore issue
with the company reserving up to 10% portion of the IPO for retail investors, 15% for non-institutional
investors and up to 75% for qualified institutional investors.

 The IPO comprises of a fresh issue of shares listed on BSE and NSE amounting to Rs. 450 crore, while
Burger King India’s promoter QSR Asia PTE Ltd will sell up to 6 crore shares, aggregating to Rs. 360
crore.

 Financial entities like Edelweiss Financial Services Ltd, Kotak Mahindra Capital Company Ltd and
JM Financial Ltd are the book running lead managers (BMR) to the IPO while Link Intime India Pvt
Ltd is the appointed registrar and will be managing allocation and refund.

 A minimum of one lot of 250 shares is needed for the investors to subscribe and a retail individual
investor can bid for a maximum of 3,250 shares.

 According to Securities and Exchange Board of India (SEBI) regulations not more than 10% of the
offer would be accessible for allocation to retail individual investors.

 Burger King India Ltd is a $100 million QSR (quick service restaurant) chain, functioning as an Indian
subsidiary of US-based Restaurant Brands International Inc. via QSR Asia and as of November 2020,
the date of filing of the Red Herring Prospectus, the company had around 261 restaurants and 9 sub-
franchised restaurants.

 Under the Master Franchise and Development Agreement, the company is required to open up at least
700 new restaurants (including Company-owned and Sub-Franchised) by December 31st 2026,
deadline for which has recently been extended by a year from the previous one of December 31st 2025
(due to the ongoing COVID-19 crisis).

References:https://economictimes.indiatimes.com/markets/ipos/fpos/burger-king-ipo-subscribed

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