Shares of quick-service restaurant chain Burger King India listed at Rs 112.50 apiece on the NSE, an 87.50 percent premium over the issue price of Rs 60 per share. The stock opened at Rs 115.35 on the BSE.
The Rs 810 crore-initial public offering (IPO) of Burger King India had received an overwhelming response as the offer was subscribed 156.65 times. It received over 1,100 crore bids compared to 7.45 crore shares on offer.
The portion reserved for retail investors was subscribed over 30 times, the qualified institutional buyers (QIB) segment was subscribed 24 times and the non-institutional investors (NII) category received 262 times subscription.
The company's IPO was open between December 2 and 4. The issue consisted of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd aggregating to Rs 360 crore.
The company fixed IPO price band at Rs 59-60 per share.
Burger King, the second-largest burger brand globally and is the fastest-growing QSR chain with a target to reach 700 restaurants by the end of 2026.