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Burger King Shares Treble In Just 3 Days Of Listing
In Wednesday's trade (December 16, 2020), shares of Burger King have been locked in 20% upper circuit, hitting a high of Rs. 199.25 per share on the BSE. On the NSE, the stock commands a price of Rs. 194.40 per share. This is a grain of over 3 times i.e. 3.3 times or 232 percent for investors who held the scrip of the world's second leading QSR until today.
On the listing day itself, the stock more than doubled in price over its issue price of Rs. 60 per share. The market debut of Burger King is said to be the best since the year 2017 when Astron Paper and Board jumped a record 142 percent. And with the surge in price, the market cap of Burger King has soared to Rs. 7604.47 crore, surpassing market valuation of Westlife Development of Rs. 6800 crore.
On the listing day, as per the NSE bulk deal data, Basant Maheshwari Wealth Advisers and Valiant Mauritius Partners Offshore bought 2.4 million and 2.5 million shares of the company, respectively at an average price of Rs. 112.79 and 130.28 per share.
Burger King IPO garnered a strong investor interest with subscription of 156.65 times.
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