Bumper Listing: Burger King shares debut at Rs 115.35, a 92% premium

The Quick Restaurant Chain had a bumper opening today on both the NSE and BSE. The QSR stock opened with a premium of 92.25 per cent on its first trading day.

Considering the stellar subscription and a consistently strong revenue growth, the stocks were expected to pen with up good, but the opening crossed all expectations.

The stock opened at 112.50 on NSE, which is a premium of 87.33 per cent with a volume of 4,77,80,140 equity shares. The opening on BSE was at 115.35, which is a premium of 92.25 per cent over the issue price of 60. The volume on BSE is 36,62,957 shares.

The stock was trading at 135.00 at 3;10 PM IST on the NSE, which is a further hike of 20 per cent on the listing price. As per the reports from analysts, the stock was expected to list at around 75 per cent premium over the issue price, considering the fact that it was trading at 75 per cent premium in the grey market as well.

Through this issue, the QSR chain has raised a fund of Rs 810 Crores. The IPO was subscribed a mind boggling 156.67 times during December 2-4. The company has plans to proceed for debt repayment and expanding the network of its restaurants using these funds.

As of now, Burger King has 259 owned restaurants and nine sub-franchised restaurants as per the circular filed with SEBI. The QSR chain plans to increase the restaurant network to 700 by the end of 2026.

The brand registered a 49 per cent CAGR growth in revenue and 258 per cent in EBIDTA during the FY2018-20. It is backed by strong sore strength in same period though it reported losses at PAT level.

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