Burger King shares debut at 131% premium to issue price

Published On: Monday, December 14, 2020 | By: Team KnowMyStock

Shares of Burger King India (BKIL) the Indian subsidiary of the US-based made a strong debut on Monday gaining 131 per cent premium of Rs. 138 against its issue price of Rs 60 on the BSE. Burger King’s initial public offering was massively oversubscribed by investors across categories earlier this month. Overall, the issue was subscribed 156 times, making it the second most subscribed IPO of 2020. Quick service restaurant (QSR) offers good long-term opportunity, suggested by the management’s growth plan and the FY21 performance so far. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. The QSR chain owned by QSR Asia continued to report losses in previous financial years but there has been strong growth in revenue and stable gross margin performance. Analysts say investors can book profits of half of the investment amount in short term and hold the rest for the long term.

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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

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MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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