InvestorQ : What are some of the key things I need to know about the Burger King IPO ahead of the issue opening on 02 December?
Dilmini Mercia made post

What are some of the key things I need to know about the Burger King IPO ahead of the issue opening on 02 December?

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Dawn Cherian answered.
2 months ago
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As the Burger King IPO opens for subscription on December 2, here is a quick on what you need to know about the IPO issue.

· Burger King IPO will open for subscription on December 02 and close on December 04. The listing of the shares is expected to be on December 14 priced at Rs.59-60.

· The year has seen some very successful IPOs like SBI Card, Rossari Biotech, Happiest Minds, Chemcon Speciality, Mazagon Dock Shipbuilders, Equitas SFB and Gland Pharma.

· The Burger King IPO will be lead managed by Kotak Mahindra Capital, CLSA India, Edelweiss and JM Financial; who will act as the book running lead managers or BRLM.

· There is a fresh issue component in the IPO worth Rs.450 crore and the offer for sale portion will be around Rs.360 crore.

· Investors can put bids for minimum 250 shares and in multiples of 250 thereafter. Retail investors can apply for maximum of 3250 shares within the Rs.2 lakh band.

· The grey market price or GMP is at a 40-50% premium to the issue price but these prices have been quite misleading in the past so take it only with a pinch of salt.

· Burger King will utilise fresh proceeds to fund roll out owned Burger King Restaurants and also for repayment or prepayment of outstanding loans.

· As per Technopak, Burger King India is one of the fastest to reach 200 restaurants among international QSR brands in India during first five years.

· Burger King reported FY18 revenues at Rs.633 crore in FY19 and to Rs 841 crore in FY20. However, COVID had a deep impact on the company business in the current year.

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