Burger King IPO Oversubscribed: Retail Portion Subscribed 13 Times

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On the first bidding day, the IPO of Burger King saw a good interest with subscription of 2.6 times. The Rs 810-crore public issue has received bids for 19.23 crore equity shares against IPO size of 7.45 crore equity shares, as per the data available on stock exchanges.

This excludes the anchor book portion. Retail investors have too been enthusiastic about the issue with their portion being oversubscribed 13 times, and the portion for NII and QII saw subscription of 40 and 17 percent, respectively.

The public issue comprises a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares (i.e. Rs 360 crore at higher price band) by promoter QSR Asia.

The price band for the issue, which will close on December 4, has been fixed at Rs 59-60 per share

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