Burger King India's shares nearly doubles; sees a strong opening premium of 92.25%

The stock opened at Rs 115.35, against issue price of Rs 60 on the Bombay Stock Exchange (BSE) while on the National Stock Exchange (NSE) shares made a debut at Rs 112.50 which is an 87.50 per cent premium over IPO price.

Leading fast-food chain Burger King India Ltd made a strong debut on BSE and NSE on Monday. Their shares saw a strong opening premium of 92.25 per cent on the first day of trade on December 14. The listing premium was very much consistent because of the solid revenue growth as well as store expansions over the past few years of operations.

Read more : Burger King India Ltd IPO aims to raise upto Rs 810 crore

The stock opened at Rs 115.35, against issue price of Rs 60 on the Bombay Stock Exchange (BSE) while on the National Stock Exchange (NSE) shares made a debut at Rs 112.50 which is an 87.50 per cent premium over IPO price.

Reportedly at 10:03 IST, the stock was trading at Rs 112, up 86.67 per cent with a volume of 36,62,957 shares on the BSE, while it was pricing at Rs 112.40, up 87.33 per cent with volumes of 4,77,80,140 property shares on NSE.

Burger King India gathered Rs 810 crore through the public issue which was subscribed 156.65 times during the December 2-4 period. The food joint is going to use stocks yields for debt repayment and expansion.

The company owns 259 Burger King restaurants and nine sub-franchised establishments as per the prospectus filed with the SEBI. It targets to expand its number to 700 eateries by the end of December 2026.