You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Burger King slides after Eastspring Investments India pares stake

Capital Market 

Burger King India fell 2.36% to Rs 146.60 after Eastspring Investments India Consumer Equity Open sold 27,55,323 equity shares of the company at Rs 154.92 per share on the NSE.

According to NSE bulk deal data, Eastspring Investments India Consumer Equity Open on Monday (11 January 2021), sold 27,55,323 equity shares (representing 0.72% stake) of Burger King India at average price of Rs 154.92.

Shares of Burger King have fallen 12.11% in two consecutive sessions from its recent closing high of Rs 166.80 on 8 January 2021.

Shares of Burger King were listed on the stock exchanges on 14 December 2020 at Rs 115.35, a premium of 92.25% to the initial public offer (IPO) price of Rs 60. The IPO of Burger King India was subscribed 156.65 times. The issue opened for subscription on 2nd December and it closed on 4th December.

Burger King set shop in India in November 2014 and has been among the fastest expanding quick service restaurant chains in the country. It is promoted by QSR Asia. The company is the national master franchisee of Burger King in India, with exclusive right and license to develop, establish, operate and franchise Burger King restaurants in India.

Burger King recorded net loss of Rs 118.95 crore and revenue from operations of Rs 135.21 crore in the six months ended on 30 September 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, January 12 2021. 10:15 IST