#BURGERKING: The Whooper Just Got Meatier
The shares of Burger King India made a strong debut as the market opened on Monday the 14th. The stock listed at Rs 115.35, a 92 per cent premium against its issue price of Rs 60 on the BSE.
After opening at a high of Rs 112.50, the stock hit a high of Rs 119. The IPO of Burger King received immense response from the investors with the public offer being subscribed 156.65 times.
The company intends to use the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.
Analyst ShareKhan has stated in an IPO note that:
"The sustained improvement in the gross margins which stood at around 64 per cent in FY2020 and negative working capital aiding operating cash flows to improve over FY2018-20. FY2021 will be the year of disruption for the QSR industry as Q1FY2021 performance was disrupted by shut down of stores during the lockdown period in India. Strong franchisee model, negative working capital, market share gains from standalone players, and strong store expansion plans would help in improving growth prospects in the coming years".
Twitter exploded with news about the huge leap made by the Burger King:
Burger King India was presented with a momento for this astounding success by Shri Ashish Chauhan, MD & CEO of the BSE at the listing ceremony:
It quickly became a trending topic on the social media platform Twitter:
Burger King has certainly made a substantial impact, if you wish your brand to move up the ladder just like Burger King, visit checkbrand.online, which helps you make a powerful impact on the digital sphere.
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