Burger King IPO will be available for Rs 59 to 60 from 2nd December, here are all the details
Burger King is proposing its IPO in a few days. On Friday, Burger King India Ltd announced the price for its IPO and set the price band at Rs 59-60 per share. Burger King belongs to Everstone Capital Group, a Singapore-headquartered India-focused mid-market private equity firm.
Burger King will put its IPO on the share market on 2nd December and investors will be able to invest in this IPO from 2nd December to 4th December. This is an amazing opportunity for investors! Investors can apply for a minimum of 250 shares in this IPO. You need to have a Demat account to invest in it. So, if you want to invest in the Burger King IPO, then you should open your Demat account by 2nd December. The shares of the company will be listed on both, NSE and BSE.
Burger King is trying to raise Rs 810 crore from its proposed IPO. Out of this proposed amount, there will be a fresh issue of Rs 450 crore. The promoter company QSR Asia Private Limited will sell 6 crores of its shares. If the IPO of Burger King gets a bid in the upper price band, then the company can get Rs 360 crore by selling these 6 crore shares.
With the money they raise, Burger King will prepay or repay their debt in addition to opening new restaurants. This will reduce the debt burden on the company and is more beneficial to them in the long run. So far, Burger King has already raised Rs 92 crore from the public market investor, Amanda Investments Ltd. Amansa was allotted the shares for Rs 58.5 per share.
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