Shares of Burger King were locked in a 20 per cent upper circuit at Rs 162 a day after it made a stellar market debut on Monday. There were a total of pending purchase orders for 15,88,446 shares at the ESB while there were no sellers in the exchange. The shares of the fast-food restaurant chain were listed at 115.35 rupees at the ESB, a 92.25 per cent premium above the 60-rupee release price. At the NSE, the shares debuted at 112.50 rupees, up 87.5 per cent.
The initial public offering of Burger King India, which was opened between 2 and 4 December, consisted of a new issue of shares worth Rs 450 crore and a sale for Rs 360 crore by the promoter QSR Asia, in price band 59-60 per share.
The primary market offer was subscribed to a whopping 156.65 times, receiving offers exceeding Rs 1,100 crore compared to Rs 7.45 crore offered. The share reserved for retail investors was subscribed more than 30 times, the section of qualified institutional buyers (QIB) was subscribed 24 times and non-institutional investors (NII) category received a subscription of 262 times.
As of 2:10 pm Burger King shares were locked in upper circuit at Rs 166.