Burger King share hit 20% upper circuit again, up 233% from IPO issue price
Burger King shares made their debut on MondayPremium
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Burger King shares were locked in 20% upper circuit for second straight day today with prices rising to ₹199.2 on BSE. After more than doubling as compared to its issue price on listing day on Monday, Burger King shares hit the 20% upper circuit limit on Tuesday After today s rise, Burger King shares are up about 233% as compared to its IPO issue price.
The market cap of Burger India has now zoomed to ₹7,604 crore, moving past Westlife Development s market valuation of ₹6,800 crore.
India halts trading in Burger King as shares more than triple from IPO issue price
Photo: Javier Quiroga/ Unsplash Premium
Burger King shares were locked in 20% upper circuit for second straight day today with prices rising to ₹199.2 on BSE. After more than doubling as compared to its issue price on listing day on Monday, Burger King shares hit the 20% upper circuit limit on Tuesday.
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Sensex rose as much as 442 points to at an all-time high of 46,704.97
The S&P BSE Sensex and NSE Nifty 50 indexes closed at record highs for third day in a row paced by gains in Bharti Airtel, HDFC, ONGC, Titan and Asian Paints. The benchmarks staged a gap up opening and held on to gains on the back of a broad-based buying interest. The Sensex rose as much as 442 points to at an all-time high of 46,704.97 and Nifty 50 index climbed as much as 125 points to hit record high of 13,692.35. The markets have been hitting new highs on the back of record foreign flows into the Indian equities, analysts said.
Burger King shares made a strong debut on the bourses on Monday
Shares of quick service restaurant chain operator Burger King are in huge demand in Wednesday s session. After a stellar market debut, the stock rose by its daily maximum limit of 20 per cent for the second consecutive session. Burger King share price has moved up to Rs 199.25, a rise of more than three times from the initial public offering price of Rs 60. Burger King s market debut was the biggest since 2017, when Astron Paper & Board Mill Ltd. jumped 142 per cent.
Burger King India made a strong debut on the bourses on Monday. The shares of the quick-service restaurant chain listed at Rs 115.35 on the BSE, a 92.25 per cent premium over the issue price of Rs 60. On the NSE, the shares debuted at Rs 112.50, up 87.5 per cent.
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The year 2020 has been a mixed bag for capital markets, and while many IPO hopefuls decided to withdraw their listings and wait for things to settle, others powered through. With money starting to flow back into the markets, the IPO market is picking up steadily.
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It wouldn’t be too much of a stretch to say that the Indian IPO market in 2020 was a roller coaster ride.
We began the year on a strong note with the blockbuster initial public offering of