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After a record run, Burger King shares crash 10%
The market cap of Burger India has now fallen to ₹6,161.81 crore.
Burger King India shares were locked in 10% lower circuit for second day in a row with prices dropping to ₹161.45 on BSE, continuing the roller coaster ride since their listing on Monday. On the day of listing, it jumped 125% over its initial public offering (IPO) price of ₹60 apiece. Then in the next two days, they were locked in 20% upper circuit before seeing profit-taking.
The market cap of Burger India has now fallen to ₹6,161.81 crore.
Burger King India’s ₹810 crore IPO was subscribed a massive 156.65 times earlier this month. The quick-service restaurant chain currently operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest is owned by the company.
Mirroring massive investor response of Burger King IPO, Mrs Bectors Food Specialities initial public offer was subscribed a whopping 198 times on the last day of subscription on Thursday. The initial share sale of Mrs Bectors Food Specialities got oversubscribed within a few hours of opening for subscription on Tuesday.
After Burger King India, this is the second Initial Public Offer (IPO) this month to have received over subscription in a few hours of opening for public subscription.
Mrs Bectors Food’s IPO received bids for 2,62,10,42,200 shares against 1,32,36,211 shares on offer, as per data available with the NSE.
