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Burger King IPO is a book build issue of ₹810.00 crores. The issue is a combination of fresh issue of 7.50 crore shares aggregating to ₹450.00 crores and offer for sale of 6.00 crore shares aggregating to ₹360.00 crores.
Burger King IPO bidding started from Dec 2, 2020 and ended on Dec 4, 2020. The allotment for Burger King IPO was finalized on Dec 9, 2020. The shares got listed on BSE, NSE on Dec 14, 2020.
Burger King IPO price band is set at ₹60.00 per share . The lot size for an application is 250. The minimum amount of investment required by an retail is ₹14,750 (250 shares). The lot size investment for sNII is 14 lots (3,500 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (16,750 shares), amounting to ₹10,05,000.
CLSA India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Burger King IPO RHP for detailed Information.
| IPO Date | December 2, 2020 to December 4, 2020 |
| Listing Date | December 14, 2020 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹59 to ₹60 per share |
| Issue Price Final | ₹60 per share |
| Lot Size | 250 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 13,50,00,000 shares (aggregating up to ₹810.00 Cr) |
| Fresh Issue | 7,50,00,000 shares (aggregating up to ₹450.00 Cr) |
| Offer for Sale | 6,00,00,000 shares of ₹10 (aggregating up to ₹360.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 30,66,54,605 shares |
| Share Holding Post Issue | 38,16,54,605 shares |
Burger King IPO offers total 13,50,00,000 shares. Out of which 10,12,50,000 (75.00%) allocated to QIB, 4,05,00,000 (30.00%) allocated to QIB, 2,02,50,000 (15.00%) allocated to NII, 1,35,00,000 (10.00%) allocated to RII and 6,07,50,000 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 10,12,50,000 (75.00%) | NA |
| − Anchor Investor Shares Offered | 6,07,50,000 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 4,05,00,000 (30.00%) | NA |
| NII (HNI) Shares Offered | 2,02,50,000 (15.00%) | NA |
| Retail Shares Offered | 1,35,00,000 (10.00%) | 54,000 |
| Total Shares Offered | 13,50,00,000 (100.00%) |
Burger King IPO opens on December 2, 2020, and closes on December 4, 2020.
| IPO Open Date | Wed, Dec 2, 2020 |
| IPO Close Date | Fri, Dec 4, 2020 |
| Tentative Allotment | Wed, Dec 9, 2020 |
| Initiation of Refunds | Thu, Dec 10, 2020 |
| Credit of Shares to Demat | Fri, Dec 11, 2020 |
| Tentative Listing Date | Mon, Dec 14, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 4, 2020 |
Investors can bid for a minimum of 250 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3,250 | ₹1,95,000 |
| S-HNI (Min) | 14 | 3,500 | ₹2,10,000 |
| S-HNI (Max) | 66 | 16,500 | ₹9,90,000 |
| B-HNI (Min) | 67 | 16,750 | ₹10,05,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Burger King is the India's fastest growing quick service restaurant chains. It is the second largest fast food burger brand with having 216 Burger-King restaurants and 8 Sub-Franchised Burger King restaurants.
It has an exclusive right to establish, develop, and operate Burger King branded restaurants in India. It aims to cater to the Indian tastes and preferences through adding new food offerings to its product portfolio. Company establishes its branches in high traffic areas in key metropolitan areas and cities across the country.
Competitive strengths
| Particulars | For the year/period ended (Rs in million) | |||
|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 11,771.18 | 11,977.07 | 9,204.72 | 7,303.55 |
| Total Revenue | 1,516.54 | 8,468.29 | 6,441.30 | 3,887.37 |
| Profit After Tax | (1,189.46) | (765.70) | (382.79) | (822.32) |
The Company Burger King IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment or prepayment of outstanding borrowings of our Company obtained for setting up of new Company-owned Burger King Restaurants; and | 164.98 |
| 2 | Capital expenditure incurred for setting up of new Company-owned Burger King Restaurants | 177.00 |
| 3 | General corporate purposes | 71.17 |
[Dilip Davda] Burger King met with fancy among younger generation that helped the company for speedy expansion of its footprint. But in the current situation of COVID-19 pandemic and changing lifestyle habits and shifting preference with rising awareness of immunity diet, Burger King will find it difficult to maintain the progress made in the last five fiscals. Company has huge carried forward losses that are represented in its NAV of Rs. 7.62 (against face value of Rs. 10) as on September 30, 2020. Thus issue appears aggressively priced. Due to its carried forward losses, BKIL has reserved 75% quota for QIBs and they may support the issue for smooth sailing. Extended gestation period may take long to wipe out accumulated losses. The segment is crowded with many organized/unorganized players and posing tough competition. Once normalcy restores, BKIL may achieve the targeted plans. Considering all these, cash surplus, risk savvy investors may consider investing in this issue with a long term perspective. Read detail review...
| Listing Date | December 14, 2020 |
| BSE Script Code | 543248 |
| NSE Symbol | RBA |
| ISIN | INE07T201019 |
| Final Issue Price | ₹60 per share |
| BSE Listing Group | B |
Burger King India Ltd.
Unit Nos.1003 to 1007,10thFloor, Mittal Commercia,
Asan Pada Rd, Chimatpada, Marol, Andheri (E),
Mumbai, Maharashtra, 400 059
Mumbai, Maharashtra
Phone: +91 2271933047
Email: investor@burgerking.in
Website: https://www.burgerking.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: burgerking.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Burger King IPO is a main-board IPO of 13,50,00,000 equity shares of the face value of ₹10 aggregating up to ₹810.00 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 250.
The IPO opens on December 2, 2020, and closes on December 4, 2020.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Burger King IPO using UPI as a payment gateway. Zerodha customers can apply in Burger King IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Burger King IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Burger King IPO opens on December 2, 2020 and closes on December 4, 2020.
Burger King IPO lot size is 250, and the minimum amount required for application is ₹15,000.
You can apply in Burger King IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Burger King IPO will be done on Wednesday, December 9, 2020, and the allotted shares will be credited to your demat account by Friday, December 11, 2020. Check the Burger King IPO allotment status.
The Burger King IPO listing date is on Monday, December 14, 2020.
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