Burger King IPO Subscription Status- Is it worth Investing?
Burger King IPO has received huge response from the Retail Category and has been subscribed by 37.80 x (retail category)so far on Day 2 (3rd Dec 2020). The company has already raised Rs 364.5 crore from anchor investors on 1st Dec 2020. The issue has received bids for 23.32 crore equity shares against the IPO size of 7.45 crore equity shares as per the information available. For Final subscription status pls click on BurgerKing IPO Subscription Status
Burger King is the fastest growing QSR chains in India and aims to develop 700 restaurants by Dec 2026. BK would be in a growth momentum for the next couple of years and we might see improved valuations as it break evens. The QSR segment has a potential to capitalise on growing opportunity as India is an underpenetrated market for QSRs. CAGR of 23 % is expected from the QSR market till FY 2025. (For Valuations pls refer Full analysis Burger King IPO- Details, Review Analysis)
Is it worth Investing? Burger King IPO Subscription Status- Is it worth Investing?
The Issue would close on 4th Dec 2020 and is relatively cheaper when compared to Jubiliant (Dominos) and Westlife (Mc D). Though the company is in net losses but its revenue continues to grow at a CAGR of 50% due to expansion.
The Burger King IPO GMP has been trading around 40-50% at Rs 25-30 and has been oversubscribed 9x on Day 2. One may expect listing gains as well as subscribe for long term returns.
|Subscription Status (no. of times,x)|
|Particulars||Number of Shares Offered||2nd Dec 2020||3rd Dec 2020||4th Dec 2020|
Burger King IPO Lot size and Important dates
|Burger King IPO Allotment and Listing|
|Basis of Allotment||9th Dec 2020|
|Refunds||10th Dec 2020|
|Credit to Demat Account||11th Dec 2020|
|Listing Date||14th Dec 2020|