Burger Kings Indian IPO Fully Subscribed On Day 1 On Strong Retail Interest

Fidelity Funds-India Focus Fund is the biggest investor as it is allocated 8.23% of the anchor investment portion followed by Eastspring Investments India Consumer Equity Open Ltd and Government of Singapore with allocation of 7.13% and 6.79% respectively.

Other investors include Amansa Holdings Private Ltd, Fidelity Investment Trust – Fidelity Emerging Markets Fund, ICICI Prudential Midcap Fund and Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Small Cap Fund who were allocated 6.72%, 6.35%, 4.76% and 4.42% respectively.

Private Equity firm Everstone Capital via its investment vehicle QSR Asia Pte Ltd, promoter entity owns 94.34% stake in the company. The initial public offering comprises of a fresh issue of Equity Shares aggregating up to Rs400 crore by the company and an offer for sale of up to 60 million equity shares by QSR Asia Pte. Ltd.

Proceeds of the funds will be used to repay existing debt and finance capital expenditure for new company-owned stores. As of First half of fiscal year 2021, the company has a total debt of ₹757 crore.

For FY20, the company reported a sale of ₹841 crore against ₹633 crore a year ago. Net loss for the fiscal was at Rs77 crore versus ₹38 crore from a year ago.

The article was first published on livemint.com.