Burger King Shares Locked In Upper Circuit For Third Day In A Row

Shares of Burger King have been in large demand for third day in a row

Shares of Burger King have been in large demand for third day in a row after a stellar market debut on Monday. Burger King inventory value rose by its day by day most restrict of 10 per cent to hit an intraday excessive of Rs 219.15 on the BSE. Burger King’s three-day share sale through Initial Public Offering (IPO), which was open between December 2 and 4, was subscribed 157 occasions, receiving bids exceeding 1,100 crore in contrast with 7.45 crore shares on supply. The portion reserved for retail traders was subscribed over 30 occasions, the certified institutional patrons (QIB) phase was subscribed 24 occasions and non-institutional traders (NII) class obtained subscription of 262 occasions.

Burger King shares have surged over thrice from the difficulty value of Rs 60 inside three days of itemizing. The shares of the quick-service restaurant chain listed at Rs 115.35 on the BSE, a 92.25 per cent premium over the difficulty value of Rs 60. On the NSE, the shares debuted at Rs 112.50, up 87.5 per cent.

Among different stellar listings within the current previous, Chemcon Speciality had surged 115 per cent and Happiest Minds Technologies had rallied 111 per cent on Day 1.

Burger King India is the nationwide grasp franchisee of the Burger King model in India and due to this fact has unique rights to develop, set up, function and franchise Burger King branded eating places in India. It has 261 eating places unfold throughout 57 cities corresponding to Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and Ludhiana.

As of 11:53 am, there have been pending purchase orders of over 12.75 lakh shares on the BSE.