US-based fast service restaurant (QSR) chain Burger King’s Indian arm on Tuesday raised Rs 364.5 crore from anchor buyers forward of its preliminary share sale that opens for public subscription on Wednesday.
“The IPO committee of the board of administrators of the corporate vide decision on December 1, 2020, and the promoter promoting shareholder in session with the…. guide working lead managers orBRLMs have finalized allocation of 6,07,50,000 fairness shares in combination, to anchor buyers on the anchor investor allocation worth of Rs 60 per fairness share,” in response to a BSE round.
At this worth, the quantity raised by the corporate stands at Rs 364.5 crore. The anchor buyers embody Authorities of Singapore,Sundaram Mutual Fund, SBI Mutual Fund, Built-in Core Methods Asia Pte Ltd, HDFC Trustee Firm Ltd, SBI Mutual Fund and ICICI Prudential Mutual Fund.
The chain, which at the moment operates 268 shops in India, of which eight are franchises primarily situated at airports and the remaining are company-owned, has mounted the worth band of the preliminary public providing (IPO) at Rs 59-60 per share. The proposed IPO will see the Indian subsidiary of the US-based Burger King increase Rs 810 crore, comprising a contemporary challenge of shares amounting to Rs 450 crore. As well as, promoter entity QSR Asia Pte Ltd will promote as much as 6 crore shares, aggregating to Rs 360 crore on the higher finish of the worth band. The problem, which might open on Wednesday, will shut on Friday (December 4).
At the moment, the QSR chain employs 4,836 folks, together with at its eating places and company workplace. Kotak Mahindra Capital Firm, CLSA India, Edelweiss Monetary Providers, and JM Monetary are the guide working lead managers to the problem.