Burger King India raises practically $50 million from GIC and different anchor buyers as IPO opens

Burger King India raises practically $50 million from GIC and different anchor buyers as IPO opens



Fast-food giant Burger King aims to raise Rs 810 crore from its Initial Public Offering going live on 2 December 2020.

Quick-service restaurant chain Burger King India Limited has raised Rs 364.5 crore from anchor investors on 1 December 2020, ahead of its public issue opening. Burger King India allotted 60.75 million shares to about two dozen anchor investors at Rs 60 apiece, it said in a stock-exchange filing. The BSE (Bombay Stock Exchange) circular which reports this also has the Burger King stock-exchange filing attached.

Sundaram MF, Steinberg India Emerging Opportunities Fund, ICICI Prudential, Samsung India Securities, Nippon Life, Fidelity Funds, Government of Singapore, Eastspring Investments India, Aditya Birla Sun Life Trustee, Elara India Opportunities Fund, IDFC MF, SBI MF, Monetary Authority of Singapore, HDFC MF and Amansa Holdings are some of the investors that participated in anchor book.

Burger King India will open its IPO (Initial Public Offering) on 2 December 2020 for a duration of three days lasting till 4 December 2020 planning to raise Rs 810 crore.

The fast-food chain was the fastest-growing international QSR chain in India during the first five years of their operations, based on the number of restaurants. The Burger King brand is the second-largest fast-food burger brand globally as measured by the total number of restaurants, with a global network of over 18,000 restaurants in more than 100 countries and US territories, as of 30 June 2019.

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