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Burger King India’s Rs 810 crore preliminary public providing (IPO) will open for bidding on December 2. The fast service restaurant chain’s share providing might be open from December 2 to December four within the worth band of Rs 59-60 per share. The shares are more likely to be listed on the BSE Sensex and NSE Nifty on December 14.
The Burger King preliminary public provide consists of contemporary concern of fairness shares amounting to Rs 450 crore and a proposal on the market of Rs 360 crore by the promoter, QSR Asia. The firm has already raised Rs 91.92 crore in a pre-IPO placement, from Amansa Investments, at a worth of Rs 58.50 per share.
The firm has reserved as much as 10 per cent of the IPO for retail traders, as much as 15 per cent for non-institutional traders and as much as 75 per cent for certified institutional traders.
The retail traders can bid within the public providing for a minimal one lot of 250 fairness shares and in multiples thereafter, as much as 13 heaps.
Burger King India will use proceeds from the first market providing to open company-owned eating places and for common company functions. It intends to open 700 eating places, together with firm retailers and sub-franchised entities, by December 31, 2026.
Burger King India already has 261 eating places unfold over 57 cities, viz. Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh and others.
The e book working lead managers of the general public concern are Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial, whereas Link Intime India is the registrar to the difficulty.
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