Burger King India IPO To Open For Bidding On December 2

Burger King India's Rs 810 crore initial public offering (IPO) will open for bidding on December 2 and will remain open for three days, until December 4. The quick service restaurant chain has fixed the issue price in the price band of Rs 59-60 per share. The shares are likely to be listed on the bourses on December 14.

The Burger King IPO involves fresh issue of equity shares worth Rs 450 crore and an offer for sale of Rs 360 crore by the promoter QSR Asia. The company has already raised Rs 91.92 crore from Amansa Investments in a pre-IPO placement, at a price of Rs 58.50 per share.

Retail bids for the public offering can be placed for a minimum one lot of 250 equity shares and in multiples thereafter, up to 13 lots.

Burger King India will use the IPO proceeds to open company-owned restaurants and for general corporate purposes. It already has 261 restaurants across 57 cities, including Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and Ludhiana. The restaurant chain plans to open another 700 restaurants approximately by December 31, 2026; these would include company outlets and sub-franchised entities.

Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the book running lead managers of the public issue, while Link Intime India is the registrar to the issue.