Burger King IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Burger King India Limited IPO release date, IPO offer price, subscription, Burger King IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 59 – Rs 60 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 250 |
| Listing Date | Dec 14, 2020 |
| Offer for Sale | Rs 3600 MILLION |
| Fresh Issue | Rs 4500 MILLION |
| IPO Size | Rs 8100 MILLION |
| Tick Size | 1 |
Listing date of Buegr King IPO is on 14th Dec 2020. Check out the live performance of this IPO.
Summary of Burger King IPO
They are one of the fastest growing international QSR chains in India during the first five years of their operations based on number of restaurants.
As the national master franchisee of the BURGER KING® brand in India, they have exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India.
Their master franchisee arrangement provides them with the ability to use Burger King’s globally recognised brand name to grow their business in India, while leveraging the technical, marketing and operational expertise associated with the global Burger King brand.
The Promoter of this company is QSR ASIA PTE. LTD. The lead manager to the issue is Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Limited. The Registrar to this issue is Link Intime India Private Limited.
Burger King IPO Dates
The opening and the closing date of Burger King IPO is Dec 2, 2020 and Dec 4, 2020.
Burger King IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – Dec 2 | 0.17x | 0.71x | 15.52x | 3.13x |
| 2nd Day – Dec 3 | 1.02x | 2.25x | 30.32x | 6.72x |
| 3rd Day – Dec 4 | 86.64x | 354.11x | 68.15x | 156.65x |
| Shares Offered or Net Issue | 40,423,729 | 20,440,677 | 13,627,118 | 74,491,524 |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Burger King IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | Dec 9, 2020 |
| Refunds Initiation | Dec 10, 2020 |
| Credit of Shares to Demat Account | Dec 11, 2020 |
| Share Listing Date | Dec 14, 2020 |
Burger King IPO Price Band / Cash Price
The face value of each share is Rs 10, and the cash price of the IPO is Rs.59 to Rs.60.
Burger King IPO Equity Size
This Initial Public Issue of 17,391,303 Equity Shares of Rs.10 each for cash at a price of Rs.59 to Rs.60 per equity share aggregating to Rs.8100 million.
Burger King IPO Share Offering
Fresh Issue: The Fresh Issue of 75,000,000 Equity Shares by their Company, aggregating to Rs.4500 million,
Issue Size: 135,000,000 Equity Shares of Rs.10 each, aggregating to Rs.8100 million
Offer for Sale: Offer for sale consists of Up to 60,000,000 Equity Shares of face value of Rs.10 each, aggregating Rs.3,600 million.
Burger King IPO – Live Performance
The listing date of this IPO is Dec 14, 2020. You can check the live performance of the IPO here, only after it is listed on exchanges.
Burger King IPO Grey Market Premium
The Burger King Limited IPO Grey Market Premium price is Rs 28-30, the Kostak rate is Rs 250 and the Subject to Sauda is 5800.
Burger King Limited – Company Overview
The globally recognised Burger King brand, also known as the “HOME OF THE WHOPPER®”, was founded in 1954 in the United States and is owned by Burger King Corporation, a subsidiary of Restaurant Brands International Inc., which holds a portfolio of fast food brands that are recognized around the world that include the BURGER KING®, POPEYES® and TIM HORTONS® brands.
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 U.S. territories as at June 30, 2019.
Burger King IPO Business Verticals
Their master franchisee arrangement provides them with flexibility to tailor their menu to Indian tastes and preferences, as well as their promotions and pricing.
Their customer proposition focuses on value leadership, offering their customers variety through innovative new food offerings at different day parts, catering to the local Indian palate, offering a wide range of vegetarian meal options, and their taste advantage and flame grilling expertise.
They believe that this enables them to grow their customer base by attracting customers looking for everyday value and giving them opportunities to access their brand for the first time.
This also increases the frequency and occasions when customers can visit their restaurants, which drives footfalls and same-store sales.
This has driven footfalls and same-store sales in their restaurants and enabled them to become one of the fastest growing QSR brands to reach 200 restaurants among international QSR brands in India during the first five years of their operations. (Source: Technopak)
Burger King India Ltd – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Burger King IPO Financial Summary
On the basis of Standalone statement:
| Amount (in INR & million) | ||||
| 30-Sep-20 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Total Assets | 11,771.18 | 11,977.07 | 9,204.72 | 7,303.55 |
| Total Revenue | 1,516.54 | 8,468.29 | 6,441.30 | 3,887.37 |
| Total Expense | – | – |
6,824.09
|
4,709.69 |
| Profit After Tax | (1,189.46) | (765.70) | (382.79) | (822.32) |
Earnings per Equity Share (in million)
| Amount (in INR & million) | ||||
| 30-Sep-20 | 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic & Diluted | – | – | – | – |
From FY 2015-16 to FY 2018-2019, as per the Restated Financial Statements
- Their revenue from sale of food and beverages grew from Rs. 2,282.86 million in Fiscal 2017 to Rs. 6,285.86 million in Fiscal 2019 and was Rs. 2,108.87 million in the three months ended June 30, 2019. Their same-store sales grew at 12.23% and 29.21% in Fiscal 2018 and 2019, respectively.
- Their gross margin grew from Rs. 1,365.63 million in Fiscal 2017 to Rs. 4,003.58 million in Fiscal 2019 and was Rs. 1,363.37 million in the three months ended June 30, 2019.
Burger King IPO – Promoters
The Promoter of this company is:
- QSR ASIA PTE. LTD
List of Related Parties (Key Managerial Personnel)
- Sumit P. Zaveri, Chief Financial Officer
- Abhishek Gupta, Chief of Business Development and Operations
- Namrata Tiwari, Chief People Officer
- Ranjana Saboo, Company Secretary
Burger King Limited: Key Strength
- Exclusive national master franchise rights in India
- Strong customer proposition
- Brand positioned for millennials 109
- Vertically managed and scalable supply chain
- Operational quality, a people-centric operating culture and effective technology systems
- Well defined restaurant roll out and development process
- Experienced, passionate and professional management team
Burger King IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 135,000,000 Equity Shares, aggregating up to Rs.8100 million |
| Of which: | |
| Fresh Issue | 75,000,000 Equity Shares, aggregating up to Rs.4500 million |
| Offer for Sale | Up to 60,000,000 Equity Shares, aggregating up to Rs.3600 million |
| QIB Portion | Not less than [●] Equity Shares |
| Of which | |
|
Anchor Investor Portion
|
Up to [●] Equity Shares
|
| Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor InvestorPortion is fully subscribed | [●] Equity Shares |
| Of which | |
| Available for allocation to Mutual Funds only (5%of the QIB Portion (excluding the Anchor InvestorPortion) |
[●] Equity Shares
|
|
Balance of QIB Portion for all QIBs including Mutual Fund
|
|
|
Non- Institutional Portion
|
Not more than [●] Equity Shares |
|
Retail Portion
|
Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 266,630,674 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Burger King IPO Issue Object
These are the IPO Issue Objects of the company:
- Funding roll out of new Company-Owned Burger King Restaurants; and
- General corporate purposes.
Burger King Limited: Business strategies
-
Continued expansion of portfolio
-
Enhance productivity and operational efficiencies
-
Optimizing the value of their asset portfolio through an efficient capital structure
Burger King IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Exclusive national master franchise rights in India
- Strong customer proposition
- Brand positioned for millennials
- Vertically managed and scalable supply chain
- Operational quality, a people-centric operating culture and effective technology systems
- Well defined restaurant roll out and development process
- Experienced, passionate and professional management team
Burger King IPO – Quantitative Factors
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | (1.44) | (15.33) | 9.30 |
| 31-Mar-17 | (3.10) | (28.64) | – |
| 31-Mar-18 | (4.87) | (19.55) | – |
Burger King Limited: Competitive Peers
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | Diluted EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Burger King Limited | 10 | (1.44) | (1.44) | [●] | (15.33)% | 9.42 |
| 2 | Jubilant Foodworks Limited | 10 | 24.23 | 24.23 | 65.02 | 25.39% | 95.45 |
| 3 | Westlife Development Limited | 2 | 2.59 | 2.58 | 134.67 | 6.91% | 37.47 |
Burger King IPO Lead Managers
| Lead Managers |
|
Edelweiss Financial Services Limited
JM Financial Limited
CLSA India Private Limited
Kotak Mahindra Capital Company Limited
|
Burger King IPO Registrar to Offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg Vikhroli (West) Mumbai, Maharashtra 400 083 Tel: +91 22 4918 6200 E-mail: burgerking.ipo@linkintime.co.in Investor grievance E-mail: burgerking.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan Website: www.linkintime.co.in SEBI Registration No.: INR000004058 |
Other Details:
- Statutory Auditor – S R B C & CO LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Escrow Collection Bank
Burger King IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Burger King IPO
Burger King IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
Burger King IPO Review FAQs
Ques – What is the Issue Size of Burger King IPO?
Answer – We have the end to end information pertaining to the latest IPO – Burger King IPO. This Initial Public Issue of 17,391,303 Equity Shares of Rs.10 each for cash price of Rs.59 to Rs.60 per equity share aggregating to Rs.8100 million.
Ques – What is the Price band?
Answer – As per the draft red hearing prospectus issued by the company, the face value of each share is Rs 10. On the other hand, the cash price of the IPO is Rs.59 to Rs.60.
Ques – What is the Burger King IPO Open Date?
Answer – The opening and the closing date of Burger King IPO is Dec 2, 2020 and Dec 4, 2020. Investors can take a step and invest in this IPO following the stated dated and gain up on the shares of thi company.
Ques – What is the IPO Allotment Date?
Answer – Finalization of basis of allotment is set on the day of Dec 9, 2020. Following this day, the shared allotted will be credit to respective demat accounts on Dec 11, 2020. IPO shall be listed on exchanges on Dec 14, and the refunds are set to be initiated on Dec 10, 2020.
Ques – What is the IPO Listing Date?
Answer – Shares of this company shall be listed on both the reputed exchanges, i.e. BSE and NSE. Date on which listing is set to take place is Dec 14,2020, which is post allotment of all the shares.
Ques – Who is the Registrar of this IPO?
Answer – Designated registrar of Burger King IPO is Link Intime India Pvt Ltd. They are one of the registrars who have earns a significant stature, and you can refer to the official website for IPO Allotment status.
Ques – Who is the Promoter of this Company?
Answer – As per the insights provided in the draft red hearing prospectus, the company promoters are QSR ASIA PTE. LTD
Ques – What is GMP of Burger King IPO?
Answer – We also have the headsup on the GMP or the Grey Market Premium of this issue. The Burger King Limited IPO Grey Market Premium price is Rs 20-25.
Ques – Is Burger King IPO good for Investment?
Answer – It is one of the well known international QSR chains, which managed to gain significant place, in India. However, you can determine the worthiness of investment based on your specific investment strategies.
Ques – What is the PAT of this Company?
Answer – We have the information from 3 financials years and September 2020 quarter ended. The food chain has incurred losses all along these years, making (1,189.46) loss in September quarter. Figures from the year ended 2020, 2019 and 2018 are – (765.70), (382.79) and (822.32) respectively.
Market Guide
Featured Topics