On the first day of subscription, the initial public offering (IPO) of Burger King India got subscribed 3.13 times! The IPO will close on Friday. Currently, having received bids for 23,32,00,750 shares against 7,44,91,524 shares on offer, according to the data available by the NSE. The initial share sale got oversubscribed within a few hours of subscription opening.

The portion reserved for the retail individual investors got subscribed 15.54 times. Having the qualified institutional buyers (QIBs) segment receive 17% of the subscription, while the non-institutional investors' segment receiving 71% of the subscription. The initial public offering will let Burger King India which is the Indian subsidiary of the US-based Burger King, raise ₹810 crores and will include a fresh issue of shares worth ₹450 crores. Up to 6 crore shares will be sold through the IPO by the promoter QSR Asia Pte Ltd. This sale is expected to fetch ₹360 crores at the upper end of the price band. The price band for the offer is set at ₹59-60 per share.

Burger King is a quick-service restaurant (QSR) chain and is currently operating 268 stores in India. Out of these stores, eight are franchises located at airports. The rest of the stores are owned by the company. Burger King India on Tuesday had raised ₹364.5 crores from anchor investors.