Wednesday, April 14, 2021
HomeIPOBurger-King IPO Final Day: 156.65 times subscription

Burger-King IPO Final Day: 156.65 times subscription

Burger King IPO succeeded in gaining higher return. On the afternoon of December 04, the subscription had reached over 156.6 times, making it the second largest subscription in 2020. There were offers for 1,166.9 crore equity shares in opposition to a bid of 7.44 crore shares. The part for qualified institutional buyers was subscribed 86.6 times and that of non-institutional capitalists was subscribed 354.1 times. The part for retail investors was subscribed 68.14 times.

On December 02, Burger King IPO was opened with a price band of ₹59-60 per share. 23.7x EV/EBITDA is the value of Burger King at higher price band. 

In the view of its strong representation of business, chain development and growing merchandise, Burger King company is highly eligible to advance its development in the approaching years. Considering this, BP equities provided a subscribe rating for the medium to long term.

Burger King India’s income raised by 2.2x to ₹841.2 crore over FY18-FY20. There were losses in FY18,FY19,FY20 and H1FY21, which provided a decrease in its considerable part of other equity.

As of September 20, Burger King India owns 261 stores. By the end of December 2022, it aims to hold 370 stores, which will be expanded to 700 stores by December 2026.

Due to its functional methodologies and the regular functioning processes, the brokerage suppose that it will attain more efficient market. And so, it suggested a subscription rating for Burger King IPO.

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