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Burger King Debuts At A Price Of Rs.115.35, 92% Premium To Issue Price
Burger King's stock made a strong listing on the stock exchanges at a premium of 92percent at a price of Rs. 115.35 per share on the NSE as against the issue price of Rs. 60.
The QSR's Rs. 810 crore IPO garnered second highest investor interest among IPOs opened in 2020 and was subscribed 156.65 times. The issue remained opened between December 2 and December 4, 2020.
The cheaper valuation, strong investor interest as well as robust revenue given the consistent expansion in the company's outlets, there have been expectations of between 70-75% gains on listing over issue price today.
As per Gaurav Garg, Head Research, CapitalVia Global Research Limited, there were expectations that the issue could give over 70 percent as listing gains. And he suggested investors to book partial gains on the listing day and hold it and they may again buy the stock on any dips for long term perspective.
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