InvestorQ : What is the subscription on the Burger King IPO at the end of the second day of subscription on Thursday end?
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What is the subscription on the Burger King IPO at the end of the second day of subscription on Thursday end?

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2 months ago
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In the midst of buoyant secondary markets, the euphoria around Burger King IPO continued on the second day too. You would recollect that the IPO had got fully subscribed on the first day itself but that was more on the back of retail demand.

At the end of the second day of the IPO on Thursday, Burger King IPO got subscribed 9.4 times overall. It may be noted that the IPO of Burger King closes for subscription on Friday 04 December. The final status will only be available after that.

As of the end of the second day, the retail portion had been subscribed 37.8 times; the HNI portion 3.6 times and the QIB portion 2.7 times. Unlike normal issues that offer 35% to the retail audience, Burger King has only reserved 10% of the issue for retail investors.

That explains the extent of oversubscription on the retail portion. The HNI and QIB portions of the IPO are normally concentrated on the last day and they are expected to grow substantially on the last day of subscription giving a much clearer picture on Friday end.

The company has placed shares worth Rs.365 crore to 55 anchor investors including most marquee names at the upper end of the IPO price band of Rs.60/share. Burger King will commence trading with a base market cap of Rs. 2290 crore when it lists.

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