In remarkable market debut, Burger King India shares are up nearly 131%
In a notable market debut, Burger King India shares surged nearly 131% on Monday from its issue price of Rs 60.
The shares opened at Rs 115.35, a whopping 92.25% premium to the BSE issue price. It later closed at Rs 138.40, a gain of 130.66 percent.
On the NSE, it jumped 125 percent to close at Rs 135 after opening at Rs 112.50, an increase of 87.5 percent.
The company’s market valuation was Rs 5,282.10 crore on the BSE at the close of trading.
In terms of volume traded, 191.55 lakh shares were traded on the BSE and more than Rs 18.67 crore on the NSE during the day.
The Burger King India share sale was subscribed 156.65 times earlier this month.
The price range for the initial public offering (IPO) of Rs 810-crore was set at Rs 59-60 per share.
The quick service restaurant chain currently operates 268 stores in India and of these, eight are franchises, mainly located in airports, while the rest are company-owned.