Burger King IPO Details are mentioned and Shares of Burger King have risen upto a price of 115.35 INR on Monday, which is a direct 92.25 percent premium over the issue price of Rs 60.
It noticed a hike of 87.5 percent on its debut on NSE, which is a direct rise of share from 60 to 112.50 INR.
The QSR chain had a Public Offer to buy shares for Rs 60 per share. The shares were made available for the public from 2-4 December 2020, and the share that was purchased was more than 156 times the original amount of shares. Burger King India was the fourth major bidding IPO this year.
Apart from Burger King India (156 times), Mazagon Dock Shipbuilders (157.41 times), Happiest Minds (156.65 times), and Chemcon Speciality (149.3 times) are the significant bidding company shares this year. These were the main four IPOs whose shares got bought for more than 100 times the original shares of the company’s open shares.
Chemcon Speciality saw a 115 percent rise in the shares as listings on 1st October 2020 whereas, Mazagon got listed on 12th October at a near around premium percentage of 50 to its IPO price. Moreover, the Happiest Minds Technologies noticed a hike of 111 percent at its listing. The IPO was sold from 7th September to 9th September 2020.
As the national master franchisee of the Burger King brand in India, Burger King has rights to develop, establish, and operate the Burger King franchisee based restaurants in India. The company first opened its restaurant in November 2014 in India. They have established 261 restaurants with eight sub franchised restaurants across 17 states and union territories, which includes 57 cities across India.
Among some of the listed rivals, Domino’s Pizza has the highest market share in sales at 21 percent of the total sale in FY20. Second place is occupied by McDonald’s at 11 percent, KFC at 10 percent, and Subway at 6 percent. A relatively new brand, Burger King, has a total f 5 percent market share in the QSR sub-segment at the end of FY20.
In growth terms, Burger King witnessed a sales growth of 56.3 percent over the FY16-20, whereas McD noticed a sales growth of 17 percent and Domino’s 12 percent during the same time period.
Same-store sales for all the three franchisees tapered in FY20. Same-store sales growth for McD decreased to 4 percent in FY20 from 17.4 percent in FY19. In comparison to McD, Burger King saw a lessen sales by 0.3 percent in FY20 from 29.2 percent in FY19. Domino’s growth also got decreased by 3.2 percent in FY20 from 16.4 percent in FY19.
Overall, Burger King IPO Details are mentioned and one can witness the hike in price range so quick. The food chains have risen a lot and so have their shares as the peopl are more into celebrating by ordering food online rather than cooking at home.