Burger King India makes remarkable market debut; shares jump nearly 131%
In a remarkable market debut, shares of Burger King India on Monday zoomed nearly 131 per cent against its issue price of Rs 60. The stock opened at Rs 115.35, a huge premium of 92.25 per cent against the issue price on the BSE. It later closed at Rs 138.40, a gain of 130.66 per cent. On the NSE, it jumped 125 per cent to close at Rs 135 after opening at Rs 112.50, up 87.5 per cent.
The company's market valuation was at Rs 5,282.10 crore on the BSE at the close of trade. On traded volume terms, 191.55 lakh shares were traded at the BSE and over 18.67 crore units on the NSE during the day.
Burger King India's share sale was subscribed a massive 156.65 times earlier this month. The price range for the Rs 810-crore initial public offering (IPO) was fixed at Rs 59-60 per share.
The quick-service restaurant chain currently operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest is owned by the co
