Burger King India IPO: Allotment of shares tomorrow, here's how to check status

The Rs 810-crore initial public offering (IPO) of Burger King India received an overwhelming response from retail investors and got oversubscribed within few hours of opening on the very first day of the share sale.

Burger King's issue received the second-highest subscription in 2020. The IPO that received strong 156.6 times subscription, opened for subscription on Wednesday, December 2, 2020 and ended on Friday, December 4, 2020,

As per data available on the stock exchange, the IPO on its third day received bids for 1,166 crore equity shares (156.65 times) against an IPO size of 7.45 crore equity shares. It received subscription 9.38 times the issue size on the second day of bidding.

Despite a volatile market, the share sale received bids for 23.32 crore equity shares (3.13 times) against an IPO size of 7.45 crore equity shares and got subscribed 3.13 times on December 2, the first day of subscription. The IPO of the quick-service restaurant chain became among the six IPOs that were fully subscribed on Day 1.

Retail investors lapped up the IPO with their reserved portion subscribed 15.54 times on Day 1. Meanwhile, Happiest Minds received 14.6 times and Chemcon Speciality Chemicals received 9.8 times.

Allotment of shares will be done tomorrow, on December 9, as per the red herring prospectus. Shares are proposed to be listed on BSE and NSE, likely on December 14. Those who had bid for the issue can check the subscription status on the online portal of Alankit Assignments, the registrar to the issue.

Here's how to check Burger King IPO allotment status

On Link Intime

- Go to the online portal of Link Intime

-Click on the drop-down menu and select the company name as Burger King in the drop-down menu of the investor's centre section.

- Enter your Permanent Account Numbers (PAN) or application number or Client ID.

- After entering the given captcha code, investors can click on submit button and view their allotment status.

On BSE

Applicants can also check their IPO allotment status on the BSE website

-Select Equity and then from the dropdown, select issue name "Burger King"

-Enter your Permanent Account Numbers (PAN) or application number and click Search

Through the application status, investors can see the number of shares subscribed to during the IPO, and the shares alloted on the page.

In a price band of Rs 59 to Rs 60, shares of the issue were available in a lot size of 250 shares and thereof.

As of September 2020, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India, as per the addendum to the draft red herring prospectus (DRHP). It targets to increase restaurant count to 700 by December 2026.

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