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Burger King lists at 92% premium over subject value

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NEW DELHI: Shares of Burger King made a robust debut on Monday because the scrip received listed at Rs 115.35 on BSE, a 92.25 per cent premium over the difficulty value of Rs 60.

On NSE, the scrip debuted at Rs 112.50, up 87.5 per cent.

The fast service restaurant’s Rs 810 crore IPO, which ran from December 2 to December 4, was subscribed 156 instances. That made Burger King India the fourth mainboard IPO this 12 months, which noticed bidding of 100 instances and extra. The different three have been Mazagon Dock Shipbuilders (157.41 instances), Happiest Minds (156.65 instances) and Chemcon Speciality (149.three instances).

While Mazagaon received listed on October 12 at a close to 50 per cent premium to its IPO value, Chemcon Speciality noticed a 115 per cent surge at its itemizing on October 1. Shares of Happiest Minds Technologies rallied 111 per cent at its itemizing. The IPO was offered from September 7 to 9.

As the nationwide grasp franchisee of the Burger King model in India, Burger King India has unique rights to develop, set up, function and franchise Burger King branded eating places in India. The firm, which opened its first restaurant in November 2014, now has 261 eating places, together with eight sub-franchised Burger King eating places, throughout 17 states and union territories and 57 cities throughout India.

Among a few of its listed friends, Domino’s Pizza (Jubilant FoodWorks) had the biggest market share when it comes to gross sales at 21 per cent in FY20. It was adopted by McDonald’ 11 per cent, KFC 10 per cent and Subway 6 per cent. A comparatively new entrant, Burger King commanded 5 per cent market share within the QSR sub-segment on the finish of FY20.

In development phrases, Burger King noticed a gross sales development of 56.three per cent over FY16-20 in opposition to Westlife Development (McDonald’s) 17 per cent and Domino’s 12 per cent throughout the identical interval.

Same retailer gross sales for all of the three gamers tapered in FY20. Same retailer gross sales (SSS) development for Westlife Development tapered to Four per cent in FY20 from 17.Four per cent in FY 19. In comparability, Burger King noticed SSSG degrowing 0.three per cent in FY20 from 29.2 per cent in FY19. Domino’s development additionally eased to three.2 per cent in FY20 from 16.Four per cent in FY19.

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