Burger King Shares Locked In Upper Circuit For Third Day In A Row

Shares of Burger King were in huge demand for third day in a row after a stellar market debut on Monday. Burger King stock price rose by its daily maximum limit of 10 per cent to hit an intraday high of ₹ 219.15 on the BSE. Burger King’s three-day share sale via Initial Public Offering (IPO), which was open between December 2 and 4, was subscribed 157 times, receiving bids exceeding 1,100 crore compared with 7.45 crore shares on offer. The portion reserved for retail investors was subscribed over 30 times, the qualified institutional buyers (QIB) segment was subscribed 24 times and non-institutional investors (NII) category received subscription of 262 times.

Burger King shares have surged over three times from the issue price of ₹ 60 within three days of listing. The shares of the quick-service restaurant chain listed at ₹ 115.35 on the BSE, a 92.25 per cent premium over the issue price of ₹ 60. On the NSE, the shares debuted at ₹ 112.50, up 87.5 per cent.

Among other stellar listings in the recent past, Chemcon Speciality had surged 115 per cent and Happiest Minds Technologies had rallied 111 per cent on Day 1.

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