Burger King IPO subscribed fully on opening day

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The IPO of Burger King India Ltd was sold out in 2 hours of its opening. The retail share allotted received 5.1 times of sales while the shares reserved for institutional investors has not received subscription. Burger King earlier has raised 2 pre-placement IPO, one in May 2020 and November 2020. The shares was priced at 60/- a share and a person had to apply for min. of 250 equity share. Amount received will be used to repay existing debt and for expansion of the company.

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