Burger King India was incorporated on November 11, 2013. As the national master franchisee of the BURGER KING® brand in India, the company has exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India. The master franchisee arrangement provides with the ability to use Burger King’s brand name to grow the business in India, while leveraging the technical, marketing and operational expertise associated with the brand.
| Bidding Dates |
|---|
| 02 Dec 2020 - 04 Dec 2020 |
| Subscription |
|---|
| 156.65x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹15,000 | 1 | 13 | 250 | 135.0 M | ₹59 - ₹60 | 64.63 % | ₹7965.0 M - ₹8100.0 M | RHP DOC |
Restaurant Brands Asia IPO SUBSCRIPTION STATUS
04 Dec '20Restaurant Brands Asia IPO overall subscription rate was 156.65 times the total available shares
Restaurant Brands Asia IPO retail subscription rate was 68.15 times in the retail segment
Restaurant Brands Asia IPO non-institutional investor subscription rate was 354.11 times in the non-institutional investor category
Restaurant Brands Asia IPO Qualified Institutional Bidder subscription rate was 86.64 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
04 Dec 2020 (Day 3) | 68.15x | 354.11x | 86.64x |
03 Dec 2020 (Day 2) | 37.84x | 3.61x | 2.7x |
02 Dec 2020 (Day 1) | 15.54x | 0.71x | 0.17x |
Restaurant Brands Asia FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| H1FY21 | -1,190.1 | 1,352.1 | 95.6 | -95.1 |
| H1FY20 | -178.6 | 4,223.3 | 738.2 | -264.9 |
| FY20 | -775.8 | 8,412.4 | 1,127.2 | -1,148.1 |
| FY19 | -775.8 | 6,327.4 | 865.4 | -789.0 |
| FY18 | -814.2 | 3,781.2 | 304.9 | -560.6 |
Restaurant Brands Asia IPO SUBSCRIPTION STATUS DETAILS
Restaurant Brands Asia had 135.0 M shares on offer
Restaurant Brands Asia IPO offer price was in the range ₹59 - ₹60
Restaurant Brands Asia IPO minimum Investment was ₹15000
Restaurant Brands Asia IPO issue size was ₹ 7965.0 M - ₹ 8100.0 M
Restaurant Brands Asia had a minimum lot size of 250 Shares per application
Restaurant Brands Asia NUMBER OF SHARES ON OFFER
Restaurant Brands Asia IPO IMPORTANT DATES
| Issue Open Date | 02 Dec 2020 |
| Issue close Date | 04 Dec 2020 |
| Allotment Date | 09 Dec 2020 |
| Refund Date | 10 Dec 2020 |
| Demat Account Credit Date | 11 Dec 2020 |
| Listing Date | 14 Dec 2020 |
| Listing on Exchange(s) | NSE and BSE |
| Restaurant Brands Asia Allotment Status | Exchange |
Restaurant Brands Asia IPO subscription opened on 02 Dec 2020, and closed on 04 Dec 2020
IPO allotment for Restaurant Brands Asia was finalized on Wednesday, 09 Dec 2020
IPO listing for Restaurant Brands Asia was on NSE and BSE on Monday, 14 Dec 2020
Restaurant Brands Asia IPO LISTING GAINS
| Issue Price (adjusted) | 60.0 |
| Listing Open Price | 115.3 |
| Listing Close Price | 138.4 |
| Listing Gain% | 92.3% |
| Current Gain% | 58.2% |
Restaurant Brands Asia Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restaurant Brands Asia Ltd. | 94.9 | 3622.7 | -38.9 | -2.3 | 2.3 | -25.9 | -5.5 | 2871.3 | 11.2 | -187.1 | 13.5 | -2.4 | 16.9 |
| Jubilant Foodworks Ltd. | 486.5 | 32101.5 | 74.9 | 0.7 | 3.4 | 18.7 | 4.5 | 9586.6 | 16.7 | 428.5 | 103.3 | 6.5 | 103.3 |
| Travel Food Services Ltd. | 1428.6 | 18811.7 | 42.7 | 2 | 11.4 | 30.6 | 19.3 | 1742.6 | -1.1 | 441 | 21.4 | 33.5 | 21.4 |
| Devyani International Ltd. | 134.7 | 16611.4 | -600.3 | 4.3 | 2.8 | -2.5 | -0.6 | 5656.6 | 13.4 | -38.6 | -522.2 | -0.2 | -140.1 |
| Westlife Foodworld Ltd. | 594.8 | 9275.9 | 292.7 | 1.4 | 3.4 | 5.2 | 1.1 | 2657 | 5.6 | 32.3 | 166.2 | 2 | 213.2 |
| Sapphire Foods India Ltd. | 224.2 | 7206 | -403.3 | 1.3 | 2.2 | -2.3 | -1 | 3153.4 | 8 | -32 | -266 | -0.6 | -299.8 |
Restaurant Brands Asia IPO Reports
Restaurant Brands Asia INFORMATION ON IPO ISSUE
About Restaurant Brands Asia
Burger King India was incorporated on November 11, 2013. As the national master franchisee of the BURGER KING® brand in India, the company has exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India. The master franchisee arrangement provides with the ability to use Burger King’s brand name to grow the business in India, while leveraging the technical, marketing and operational expertise associated with the brand.
Object of the Issue
1. To finance the roll-out of new company-owned Burger King Restaurants.
2. To meet the general corporate purposes.
Restaurant Brands Asia - PROMOTERS
| Name |
|---|
| QSR Asia Pte. Ltd |
Restaurant Brands Asia Book Running Lead Managers
Kotak Mahindra Capital Company Limited
burgerking.ipo@kotak.com
CLSA India Private Limited
burgerking.ipo@clsa.com
Edelweiss Financial Services Limited
burgerking.ipo@edelweissfin.com
JM Financial Limited
burgerking.ipo@jmfl.com
Restaurant Brands Asia Registrar to the Offer
Link Intime India Private Limited
burgerking.ipo@linkintime.co.in
Restaurant Brands Asia Strengths
Exclusive rights
The company has exclusive franchise rights in India
Supply chain
The company has a vertically scalable supply chain
Experienced team
The experienced and professional management team
Restaurant Brands Asia Risks
Incurred losses
The company's posted restated loss in Fiscal 2018, 2019 and 2020 and for the six months ended September 30, 2019 and September 30, 2020 and may incur additional losses in the future
Negative cashflow
The company has had negative cash flows from operating and financing activities in certain of the last 3 years and the six months ended September 30, 2019 and September 30, 2020 and may have negative cash flows in the future.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 360.0 crore, of 60,000,000 shares. It also consists of a fresh issue of Rs 450.0 crore.
The promoter of the company is QSR Asia Pte. Ltd.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 59.0 - 60.0.
The IPO application opens on Dec 02, 2020 and closes on Dec 04, 2020.
The minimum lot size for the IPO is 250. The maximum lot size for the IPO is 3250.
For all category investors, the minimum application amount for this IPO is Rs. 15,000.0, the maximum value for this IPO is Rs 195,000.0.
This IPO will be allotted on Dec 09, 2020.
The refund will be credited to your account on Dec 10, 2020.
The allotted shares will be credited to your demat on Dec 11, 2020.
Burger King India Ltd.’s shares listed on the stock exchanges on Dec 14, 2020.