Do you want to play fun Situs Slot Gacor Malam Ini 2022 but still get bored? Join our site now! We provide Bocoran Pola and how to play Game Slot Online every day.

Burger King IPO Subscribed Over 3 Times On First Day Of Issue – Unblendednews

Burger King IPO Subscribed Over 3 Times On First Day Of Issue


Burger King India’s initial public offering was oversubscribed 3.13 times

Burger King India shares were in huge demand as the issue was oversubscribed within hours of opening. On the opening day of the three-day share sale which began today, Burger King India’s Initial Public Offering (IPO) was oversubscribed 3.13 times with retail investors showing keen interest in the IPO. The portion reserved for retail investors was subscribed 7.9 times by the end of first day of bidding.

Burger King received over 23 crore bids for its shares compared with 7.45 crore shares on the offer. Out of total bids, 15.80 crore bids were received at the cut-off price.

Burger King is planning to raise Rs 810 crore from the IPO and has fixed the issue price in the price band of Rs 59-60 per share. The shares are expected to debut on stock exchanges on December 14.

The Burger King IPO involves fresh issue of equity shares worth Rs 450 crore and an offer for sale of Rs 360 crore by the promoter QSR Asia. The company has already raised Rs 91.92 crore from Amansa Investments in a pre-IPO placement, at a price of Rs 58.50 per share.

Newsbeep

Retail bids for the public offering can be placed for a minimum one lot of 250 equity shares and in multiples thereafter, up to 13 lots.

“At upper price band of Rs 60, the IPO is valued at price to sales (P/S) ratio of 2.7 times based on FY20 sales, compared to peers like Jubilant FoodWorks (8.4 times) and West Life Development (4.4 times). Also, on per store basis, the company’s valuation (market cap/total stores) stands at Rs 8.8 crore, compared to Jubilant FoodWorks’ (Rs 26.2 crore) and Westlife (Rs 23.8 crore). The valuation seems reasonable when compared to peers,” brokerage firm Anand Rathi said in a research report.

“While the COVID-19 crisis have impacted short term growth, we believe the company remains well placed for long-term growth, given its strong brand position, diverse food offerings, well established supply chain, aggressive expansion plans, cost management efforts and benefit from the gradual recovery in the QSR (quick service restaurant) industry post COVID. As such, we recommend subscribe to this IPO,” Anand Rathi added.



Source link

Leave a Reply

Your email address will not be published.

https://freefireimagem.com/

https://printveela.com/

https://negocio.topnews.cloud/

https://stocksnstonks.com/

https://airmotiontechnology.com/

https://footballroof.com/

https://iavstudios.com/

https://theultimategameoflife.com/

https://manualcopyleft.net/

https://thatsmytool.com/