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Burger King India shares hit 20% upper circuit for third straight day, surge 232% from issue price

Burger King India Shares: The market capitalisation (m-cap) of Burger King India touched Rs 7,604.47 crore on Wednesday, surging past Westlife Development's m-cap of Rs 7,311.72 crore, data available on the BSE showed.

By: Express Web Desk | New Delhi | Updated: December 16, 2020 6:12:37 pm
Vehicles and pedestrians pass a Burger King restaurant, operated by Burger King Worldwide Inc. and the Everstone Group, at night in Mumbai, India, on Monday, March 26, 2018. (Photographer: Dhiraj Singh/Bloomberg)

Burger King India: Shares of quick-service restaurant (QSR) major Burger King India continued to rally as they hit their 20 per cent upper circuit in the early deals on Wednesday. The stock hit its upper circuit mark for the third straight day post listing and eventually settled at those levels.

On the BSE, the Burger King India stock was frozen at Rs 199.25 per share, up 20 per cent from Tuesday’s close. Likewise, it was locked at Rs 194.40 apiece on the National Stock Exchange (NSE). With the latest surge in its stock, so far in just three days, the scrip has swollen a whopping 232.08 per cent from its issue price of Rs 60 on the BSE, while on NSE, it has jumped 224 per cent so far.

On Wednesday’s trade, over 57.60 lakh (57,60,271) shares of Burger King India were traded on the BSE, while over 2.11 crore (2,11,03,499) shares exchanged hands on the NSE, data from the respective stock exchange showed.

The market capitalisation (m-cap) of Burger King India touched Rs 7,604.47 crore on Wednesday, surging past Westlife Development’s m-cap of Rs 7,311.72 crore, data available on the BSE showed.

The Rs 810 crore IPO of Burger King India was met with a robust demand during its offer period earlier this month from December 2-4. The issue was oversubscribed a whopping 156.65 times.

The scrip had debuted on Monday at Rs 115.35 apiece on the BSE and at Rs 112.50 per share on NSE. It eventually had settled at Rs 138.40, after hitting its upper circuit on the BSE, while on NSE, it ended the first day at Rs 135.00 per share. On Tuesday, it had settled after hitting its day’s upper circuit at Rs 166.05 on BSE and Rs 162.00 on NSE.

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