Burger King hit 20% Upper Circuit the day after the blockbuster debut

Burger King shares were locked in an upper price of 20 percent at a price of 162 percent one day after their stellar market debut on Monday. In total, buy orders for 15,88,446 shares were outstanding on BSE, while there were no sellers on the stock exchange. The shares of the fast food chain were listed on the BSE at Rs 115.35, which corresponds to a premium of 92.25 percent compared to the issue price of Rs 60. On the NSE, the shares debuted at Rs 112.50, an increase of 87.5 percent.

The first public offering from Burger King India, which was open between December 2nd and 4th, consisted of a new issue of shares worth Rs.450 billion and a sales offer from promoter QSR Asia worth Rs.360 billion in the price range from Rs 59-60 per share.

The primary market offering was subscribed a whopping 156.65 times and received bids in excess of 1,100 crore compared to 7.45 crore of the stocks offered. The portion reserved for retail investors was subscribed more than 30 times, the qualified institutional buyer (QIB) segment was subscribed 24 times, and the non-institutional investor (NII) category received 262 times.

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As of 2:10 p.m., Burger King shares were locked at Rs 166 in the upper circuit.

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