With an over-subscription of 157 times, Burger King India IPO
became the second-most subscribed offer in calendar year 2020. The shares are
expected to get listed on December 14.
The allotment
status of Rs 810-crore initial public offer (IPO) of Burger
King India will be announced on Wednesday, December 9. With an
over-subscription of 157 times, the IPO became the second-most subscribed
offer, after Mazagon Dock Shipbuilders, in calendar year 2020.
Applicants who
applied for the IPO
can check their allotment status on either BSE website or Link Inktime website.
An applicant
tracking BSE website (link here) can check on "Equity" box and select
his/her "Issue Name" in the dropdown menu (UTI AMC). After that, the
person needs to type his/her "Application Number" in the box,
"Permanent Account Number (PAN No.)" and click on "Search"
button.
Investors may also
check the status on Link Inktime India (link here) and follow the same steps as
mentioned above.
Quick service
restaurant (QSR) Burger King India's IPO generated bids for 11.7 billion
shares, worth Rs 70,000 crore, as against only 75 million on offer. Demand in
three categories of the IPO garnered robust response from investors. The
qualified institutional buyer (QIB) portion was subscribed 87 times, excluding
the demand in the anchor segment. The high networth individual (HNI) and the
retail portion were subscribed 354 times and 68 times, respectively. The retail
quota for this IPO was 10 per cent, as the company failed to meet the
profitability criteria, compared to 35 per cent in regular IPOs.
According to ICICI
Securities, reduced competition from unorganised smaller local restaurants due
to Covid-19 related disruptions and expansion of food delivery businesses, the
company is well positioned to expand its footprint in India. They believe
Burger King India would be able to capture the growth largely aided by changing
habits of eating out/ordering outside food.
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