Burger King India IPO
Burger King India IPO — date, price band, lot size & details 2020
Burger King India listed on 14 Dec 2020 at ₹112.5, 87.5% above the ₹60 issue price.
Burger King India is the national master franchisee of the Burger King brand in India, with exclusive rights to run and sub franchise Burger King restaurants. Its total income was Rs 846.83 crore in FY2020.
Stock price
Burger King India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 02 Dec 2020
- Close 04 Dec 2020
- Allotment 09 Dec 2020
- Refund/credit 10 Dec 2020
- Listing 14 Dec 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 4 Dec, 2020 |
|---|---|
| Price Band | ₹59 – ₹60 |
| Face Value | ₹10 |
| Lot Size | 250 Shares |
| Issue Size | ₹810 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 250 shares at the ₹60 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 250 | ₹15,000 |
| Retail (max) | 13 | 3,250 | ₹1,95,000 |
| S-HNI (min) | 14 | 3,500 | ₹2,10,000 |
| S-HNI (max) | 66 | 16,500 | ₹9,90,000 |
| B-HNI (min) | 67 | 16,750 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01It holds exclusive rights in India to the Burger King brand, which has 18,675 restaurants worldwide.
- 02Total income rose from Rs 388.74 crore in FY2018 to Rs 846.83 crore in FY2020.
- 03EBITDA rose from Rs 8.13 crore in FY2018 to Rs 104.01 crore in FY2020.
- 04It had 259 company owned restaurants and planned at least 300 restaurants by 31 December 2021.
- 05Rs 450.00 crore of the issue was fresh money, mostly for repaying debt and opening restaurants.
Risks · 5
- 01It made losses every year: Rs 82.23 crore in FY2018, Rs 76.57 crore in FY2020 and Rs 118.95 crore in the six months to 30 September 2020.
- 02COVID-19 forced it to close many restaurants for a time from March 2020, and total income was only Rs 151.65 crore in the six months to 30 September 2020.
- 03The whole business of 259 company owned restaurants rests on its master franchise agreement.
- 04Total borrowing rose from nil in FY2018 to Rs 198.34 crore on 30 September 2020.
- 05QSR Asia held 85.38% before the issue and 52.88% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Burger King India offer document.
| Metric | 30 Sep 2020 | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|---|
| Assets | 1,177.12 | 1,197.71 | 920.47 | 730.36 |
| Total Income | 151.65 | 846.83 | 644.13 | 388.74 |
| Profit After Tax | -118.95 | -76.57 | -38.28 | -82.23 |
| EBITDA | -15.98 | 104.01 | 78.99 | 8.13 |
| NET Worth | 218.89 | 275.43 | 249.65 | 287.13 |
| Reserves and Surplus | -72.05 | -2.32 | -15.35 | 22.13 |
| Total Borrowing | 198.34 | 198.52 | 100.00 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹413.15 Cr of the issue is earmarked to named objects.
About the company
According to Technopak, it was one of the fastest growing international QSR chains in India in its first five years by number of restaurants. As master franchisee it uses the global Burger King brand, which had 18,675 restaurants in more than 100 countries on 30 September 2020.
As of the prospectus date it had 259 company owned and nine sub franchised Burger King restaurants, and it planned to have at least 300 restaurants by 31 December 2021. Its menu and pricing are tailored to Indian tastes with a focus on value.
The IPO was Rs 810 crore, with Rs 450.00 crore of fresh issue and Rs 360.00 crore of offer for sale by QSR Asia. The fresh money was for repaying borrowings and opening new company owned restaurants.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Burger King India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
CLSA India Pvt. Ltd
9 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Star Health and Allied Insurance Company (-6.1%).
Edelweiss Financial Services Ltd
17 issues handledBest listing: Route Mobile (+104.9%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Burger King India?
The current Grey Market Premium is ₹45, or 75% over the issue price.
What is the Burger King India IPO price band?
₹59 to ₹60, on a face value of ₹10.
When is the allotment?
The basis of allotment is 9 December 2020, with listing on 14 December 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
