Burger King raises Rs 364 crore from 55 anchor investors ahead of IPO
Burger King India decided to allot shares to anchor investors at a price of Rs 60 per share, the higher price band
December 01, 2020 / 11:26 PM IST
Quick-service restaurant chain Burger King India has raised Rs 364.5 crore from 55 anchor investors on December 1, ahead of its public issue opening.
"The IPO Committee and the promoter selling shareholder in consultation with merchant bankers have finalised allocation of 6,07,50,000 equity shares to anchor investors," the company said in its filing to exchanges.
The company decided to allot shares to anchor investors at a price of Rs 60 per share, the higher price band.
Sundaram MF, Steinberg India Emerging Opportunities Fund, ICICI Prudential, Samsung India Securities, Nippon Life, Fidelity Funds, Government of Singapore, Eastspring Investments India, Aditya Birla Sun Life Trustee, Elara India Opportunities Fund, IDFC MF, SBI MF, Monetary Authority of Singapore, HDFC MF and Amansa Holdings among those investors participated in anchor book.
Burger King India will open its Rs 810 crore IPO on December 2 and the same will close on December 4.
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The issue consists a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia. The price band for the issue has been fixed at Rs 59-60 per share.
The company will utilise fresh issue funds for roll out of owned Burger King Restaurants, and general corporate purposes.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are book running lead managers to the issue.