Burger King IPO Allotment: Here's How To Check The Status Of Share Allocation

Burger King Share Allocation: Those who are keen on accumulating shares of the recently held initial public offer (IPO) of the fast food restaurant chain Burger King, then it’s time to track the allocation of the shares. The share allocation in Burger King IPO is likely to be finalised on Wednesday. Also Read: Forbes Most Powerful Women 2020 List: Nirmala Sitharaman Figures For Second Time, Slips To 41st Position How to check the share allocation? The shares of the fast food chain are likely to get listed on BSE and NSE on 14th December, according to brokerages. Those who had bid for the issue can check the share allocation status on the website of Link Intime India, which is the registrar of Burger King IPO. The registrar manages share allocation and refund. Burger King India IPO had subscribed a massive 156.65 times. On Link Intime India's web portal (https://linkintime.co.in/MIPO/Ipoallotment.html), you have to select the IPO whose data will be populated only when the basis of allotment is declared. You will need a PAN or application ID or client ID and DPID (depository participant identification) to check the exact information. The other way of checking the IPO allotment status is via stock exchange. On BSE, you can click her at https://www.bseindia.com/investors/appli_check.aspx How much was the issue subscribed? The ₹810-crore Burger King IPO included a fresh issue of shares worth ₹450 crore. The issue emerged as the top-three most-subscribed IPO this year along with Happiest Minds Technologies and Mazagon Dock Shipbuilders. Promoter entity QSR Asia Pte Ltd sold up to 6 crore shares through the IPO. At the upper end of the price band, the sale fetched ₹360 crore. The issue was fixed at the price range of ₹59-60 per share. The retail individual investors segment was subscribed 68.15 times while the portion meant for qualified institutional buyers (QIBs) was subscribed 86.64 times and non-institutional investors subscribed it for 354.11 times. Burger King India runs the franchise of Restaurant Brands International Inc's U.S. chain Burger King. Currently, the quick service restaurant (QSR) chain operates 268 stores in India, most of them owned by the company. The company plans to use the IPO proceeds to open new stores and reduce debt. The burger chain aims to expand the chain and have around 700 restaurants across the country by 2026.