NAME: Burger King India’s IPO
LAW FIRMS: Cyril Amarchand Mangaldas, IndusLaw, Ashurst
LAWYERS: Cyril Amarchand Mangaldas - Yash Ashar, Gokul Rajan, Devaki Mankad, Abhinav Kumar, Meesha Varshney, Shiv Bhargava, Amitpal Singh, Rutvik Shukla, Roshni Bhalla, Surbhi Purohit.
IndusLaw - Manan Lahoty, Manshoor Nazki, Priyadarshini Rao, Anjali Menon, Rashika Narain, Ritika Banerjee.
JURISDICTION: India
PRACTICE AREAS: Capital markets
INDUSTRY SECTORS: Consumer goods and services
The listing of Burger King’s Indian arm is our deal of the month for December.
The global fast food chain Burger King had spun off its Indian component, which operates over 250 stores nationwide, in the Mumbai bourse on the first week of December. Its sheer size attracted much attention and resulted in an oversubscription by almost 160 times.
Being one of the very last stock to debut in India last year, Burger King India had also become one of the best performing IPO of the year. It had doubled its initial price on the first trading day.
The capital raised would be expected to repay debts and further expand Burger King’s presence in the second populous country in Asia after China, as analysts forecast the growth of Indian middle class would only bring more customers to the Western fast food chains.
