Burger King India IPO opens December 2; Price band fixed at Rs 59-60 per share

Burger King India, a quick-service restaurant chain, is expected to launch its maiden public offer for subscription next week. The company, after consultation with merchant bankers, has a fixed IPO price band at Rs 59-60 per share, which is 5.9-6 times of its face value of equity shares.

Investors can bid for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter. It means retail investors can apply for a maximum up to 3,250 equity shares at a higher price band.

The initial public offering will open on December 2 and close on December 4, 2020.

The IPO consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd.

The Rs 810 crore offer would comprise of Rs 450 crore of fresh issue and offer for sale of up to 6 crore equity shares by promoter QSR Asia and would be sold in Rs 59-60 price range. At the upper price band, OFS is valued at Rs 360 crore.