Shares of Burger King had been locked in a 20 per cent higher circuit at Rs 162 a day after it made a stellar market debut on Monday. There had been a complete pending purchase orders for 15,88,446 shares on the BSE whereas there have been no sellers on the alternate. The shares of the quick-service restaurant chain acquired listed at Rs 115.35 on the BSE, a 92.25 per cent premium over the problem worth of Rs 60. On the NSE, the shares debuted at Rs 112.50, up 87.5 per cent.
Burger King India’s preliminary public supply, which was open between December 2 and 4, consisted of a contemporary concern of fairness shares amounting to Rs 450 crore and a suggestion on the market price Rs 360 crore by the promoter QSR Asia, within the worth band of Rs 59-60 per share.
The major market providing was subscribed by a whopping 156.65 occasions, receiving bids exceeding 1,100 crore in contrast with 7.45 crore shares on supply. The portion reserved for retail buyers was subscribed over 30 occasions, the certified institutional consumers (QIB) section was subscribed 24 occasions and non-institutional buyers (NII) class acquired subscription of 262 occasions.
As of two:10 pm Burger King shares had been locked in higher circuit at Rs 166.