Burger King India makes remarkable market debut; shares jump over 92%

The stock opened at ₹115.35, a huge premium of 92.25 per cent against the issue price on the BSE. It later rose to a high of ₹119.80, up 99.66 per cent.

Shares of Burger King India on Monday zoomed over 92 per cent in its debut trade against its issue price of ₹60.

Burger King currently operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest are owned by the company. (Reuters file photo)

The stock opened at ₹115.35, a huge premium of 92.25 per cent against the issue price on the BSE. It later rose to a high of ₹119.80, up 99.66 per cent.

On the NSE, it jumped 87.5 per cent to ₹112.50 in its opening trade. The company’s market valuation was at ₹4,535.96 crore on the BSE. Burger King India’s share sale was subscribed a massive 156.65 times earlier this month.

Price range for the ₹810-crore initial public offering (IPO) was fixed at ₹59-60 per share.

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 are owned by the company.