Burger King IPO opens this week: Key things to know before applying


NEW DELHI: The year 2020, which saw 16 companies raising Rs 25,000 crore through IPOs, is ready for yet another issue this week. The much-awaited Burger King IPO will hit the market on Wednesday. Angel Broking said the issue is priced attractively and at deep discount to Jubilant FoodWorks. Rightly so, it said, given its profitability track record is not as good as Jubilant and its outlets are also younger. Here’s what you need to know about the issue:

  1. When will the Burger King IPO open?
    Burger King India’s IPO will open on December 2, Wednesday.
  2. What is the price band for the Burger King IPO?
    The price band for the Burger King IPO is set at Rs 59-60.
  3. What is the lot size for the Burger King IPO?
    Investors need to subscribe to a minimum of one lot of 250 shares. A retail individual investor can bid for a maximum of 3,250 shares.
  4. What is the issue size of the Burger King IPO?
    The issue comprises a fresh issue of up to Rs 450 crore and an offer for sale of up to 6 crore shares that amounts to Rs 360 crore at the upper limit of the price band. This sums up the two, the issue size for Burger King IPO is Rs 810 crore.
  5. What is the quota for retail investors in Burger King IPO?
    As per the RHP, not more than 10 per cent of the offer would be available for allocation to retail individual bidders, in accordance with the SEBI ICDR Regulations.
  6. Is there any employee quota in Burger King IPO?
    No. There is no employee quota.
  7. How will the company utilise its net proceeds?
    The company intends to use the proceeds on rolling out of new company-owned Burger King restaurants and repayment or prepayment of outstanding borrowings.
  8. When will Burger King IPO’s anchor details be disclosed?
    The anchor investor bid’s offer period will be one working day prior to the kick start of the IPO, in accordance with the SEBI ICDR Regulations. This, in Burger King’s case, is Tuesday, December 1.
  9. Who are the leading book managers to the issue?
    Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the Book Running Lead Managers (BMR) to the IPO.
  10. Where will shares of Burger King get listed?
    The shares of the company will be listed on the BSE and the NSE. For the purpose of the offer, BSE is the designated stock exchange.
  11. When will the basis of allotment for Burger King be finalised?
    The basis of allotment will be finalised on or about December 9.
  12. What is the last date for subscription in Burger King’s IPO?
    It’s December 4, Friday.
  13. On what date will Burger King get listed?
    Burger King listing is likely by December 14.
  14. Who will be the listed peers of Burger King?
    Listed firm Westlife Development runs McDonald’s restaurants across west and south India through its wholly-owned subsidiary Hardcastle Restaurants. It is the key peer of Burger King. Jubilant Foodworks, which runs Domino’s in India, also can be seen as the company’s peer.
  15. Where could we check Burger King IPO allotment status?
    Those who would bid for the issue can check the subscription status on : www.linkintime.co.in, the online portal of Link Intime India Private Limited, the registrar to the IPO. The registrar to an issue is a Sebi-registered entity, qualified to act as such, and which electronically processes all applications and carries out the allotment process as per the prospectus.
  16. How has Burger King’s listed peers performed?
    Shares of Westlife Development have jumped 27 per cent year-to-date and 57 per cent in the last six months.Jubilant FoodWorks, on the other hand, has surged 51 per cent so far this calendar. This stock is up 47 per cent in the last six months.
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