Apply for IPO of Burger King, then you can easily check the status of allotment, know what is the way

If you have applied for the initial public offer (IPO) of fast food chain Burger King, then you will be eagerly waiting for the allocation of shares. The reason for this is that the IPO of Burger King received tremendous subscription of more than 156 times. All eyes are now on allocation of shares of the company. Link Intime India Pvt Ltd is the registrar of this IPO and will manage the allocation and refund of shares. Investors can find out the status of allotment of shares through the link Intime India website. 

According to brokerage companies, shares of companies will be listed on BSE and NSE on December 14, 2020. 

Burger King’s IPO proved to be a bumper hit

The fast food chain’s IPO opened for subscription last week. The last date to subscribe was December 4, 2020. The company invited bids for 7,44,91,524 shares. It received bids for 11,66,93,73,500 shares under this IPO. It is worth mentioning that within a few hours of the IPO opening on Wednesday, Burger King IPO got more than 100 percent subscription. This indicates that investors are quite confident about the country’s food service sector despite the sluggishness caused by the Covid-19 epidemic. The company has set a price band of Rs 59-60 per share for this IPO. 

Size of this IPO

The total size of the Burger King IPO is Rs 810 crore. In this, new shares worth Rs 450 crore will be issued. At the same time, the promoter company QSR Asia Pte Ltd will sell its 60 million shares through this IPO. If calculated on the basis of the upper price of this IPO, the company will raise Rs 360 crore. The proceeds from this IPO will be used to open new stores and reduce debt. 

This Burger King IPO is among the three IPOs to have received the highest number of subscriptions this year. Apart from this, IPOs of Happiest Minds Technologies and Mazagon Dock Shipbuilders received tremendous subscriptions.