1.

Based on the number of restaurants in the last five years, Burger King is one of the
fastest-growing international QSR chains in India.
2. They have a strong customer proposition and the brand is positioned for millennials.
3. Vertically managed, scalable supply chain model with good operational quality, a people-
centric culture and effective technology systems.
4. Key concern is regarding the continuing of the COVID-19 crisis and an adverse effect on
liquidity as well as unfavourable change in consumer preferences.
5. The company is in the growth phase and has scheduled an aggressive restaurant expansion plan

Company Details:

Burger King India (BKI) is a fast growing international QSR chain in India. It started its operations in 2014
and within five years established 261 restaurants in major cities and towns. The company has exclusive
rights to develop, establish, operate and franchise Burger King branded restaurants in India as a master
franchisee. Its master franchisee arrangement provides it the ability to use Burger King’s brand name to
grow the business in India, while leveraging the technical, marketing and operational expertise
associated with brand. The arrangement provides flexibility to tailor menus to Indian tastes and
preferences, promotions and pricing. Globally, the Burger King brand is the second largest fast food
burger brand with a network of 18,675 restaurants in more than 100 countries.

Burger King IPO Details

IPO Opening Dec 2, 2020
Date

IPO Closing Date Dec 4, 2020

Issue Type Book Built Issue IPO

Face Value ₹10 per equity share

IPO Price ₹59 to ₹60 per equity share

Market Lot 250 Shares

Min Order Quantity 250 Shares

Listing At BSE, NSE

Issue Size 135,000,000 Eq Shares of ₹10
(aggregating up to ₹810.00 Cr)

Fresh Issue 75,000,000 Eq Shares of ₹10

(aggregating up to ₹450.00 Cr)

Offer for Sale 60,000,000 Eq Shares of ₹10

(aggregating up to ₹360.00 Cr)

Burger King IPO Subscription

Burger King IPO subscribed 156.65 times. The public issue subscribed 68.15 times in the retail category,
86.64 times in QIB, and 354.11 times in the NII category by Dec 4.

Category Subscription Status

Qualified 86.64 Times

Institutional

Non Institutional 354.11 Times

Retail Individual 68.15 Times

Employee [.] Times

Others [.] Times

Category Subscription Status

Total 156.65 Times

Share holding pattern

Pre- issue Post- Issue

Promoter Group 94.3% 60.1
Public 5.7 39.9

Competitive strengths

 Strong customer value preposition.

 Exclusive franchise rights in India.
 Brand value and customer loyalty.
 Vertically scalable supply chain.
 Experienced and professional management team.

Key risks and concerns

Localised lockdown to impact operations in medium term
Negative advertisement of junk food

Termination of master franchise

Competition risk