MUMBAI: The Rs 810-crore
Burger King
IPO closed with a
subscription
of 157 times. This makes it the second-most subscribed offering this year, behind the Mazagon Dock IPO that was subscribed 157.4 times.
Happiest Minds IPO, with a subscription figure of 151 times, is at the third spot on the table for most successful maiden offerings this year, industry data showed. The Burger King IPO’s institutional part was subscribed a little over 86 times, while the high net worth investors’ part was subscribed more than 357 times.
The retail part was subscribed nearly 69 times. The total number of applications put in the offer was 24.2 lakh. The offering for the domestic franchise for the global fast food company opened on December 2 and had a price band of Rs 59-60 per share. Of the total issue size, Rs 450 crore will accrue to the company.
The balance Rs 360 crore will go to one of the existing shareholders of the company, QSR Asia, that’s offloading part of its current stake in the company. Kotak
Mahindra Capital
, CLSA India,
Edelweiss Financial Services
and
JM Financial
managed the IPO.