Burger King to open the bid/offer period in relation to its initial public offer (IPO) of equity shares of the face value of Rs 10 each on December 2, 2020. The price band of the offer has been fixed at Rs 59-60 per equity share for its Rs 810 crore IPO, which will close on December 4, 2020.
Burger King is selling new shares worth Rs 450 Cr to the public, QSR Asia Pte Ltd of Everstone Group, is selling upto 6 Cr shares worth Rs 360 crore. After the IPO, QSR Asia will hold 52.9 per cent shares in the company. The company has raised pre-IPO funding of ₹92 crore from public markets investor Amansa Investments at ₹58.5 per share.
The Company plans to utilize these funds to further ramp up its restaurant network, and intends to open and develop 700 restaurants by December 2026.