Burger King IPO, given the overwhelming response it received, this huge bumper listing was expected.

The stock got listed on the BSE at Rs.115.35 v/s IPO price of Rs.60/share, an over 92% premium.

The Rs 810-crore public issue was subscribed by a huge 156.65 times.

HNIs portion was subscribed the most at 354 times, with QIBs at 87 times and retail investors at 68 times.

In our New Issue Analysis, we had stated, “Except for Jubilant Food, domestic food service industry has not rewarded investors, despite tailwinds of changing eating-out habits and increasing penetration. Be it the largest café chain under Coffee Day or Speciality Restaurants whose market cap shrunk 75% in past 8 years. Everstone’s portfolio companies too have failed to create investor wealth, with Indostar’s share price halving in 2.5 years since 2018 IPO while S Chand’s correcting 90% in past 4 years.”