Burger King IPO subscribed 157 times at close on robust all-round demand

Quick service restaurant (QSR) Burger King India’s initial public offering (IPO), which closed on Friday, saw 157 times more demand than the shares on offer. The issue generated bids for 11.7 billion shares, worth Rs 70,000 crore, as against only 75 million on offer—making it one of the most-subscribed IPOs ever. This despite the company operating in the restaurant business—one of the most battered by the Covid-19 pandemic. Demand in three categories of the IPO robust. The qualified institutional buyer (QIB) garnered 87 times subscription, excluding the demand in the anchor segment. The high networth individual (HNI) and the retail