Burger King’s Stock Market Debut Becomes Biggest Since 2017

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Burger King India Ltd. surged 131% on its first day of trading, the latest successful debut after a spurt of technology company listings helped boost initial share sale pipeline.

The operator of Burger King-branded restaurants in India saw demand nearly 157 times more than the number of shares in its initial public offering earlier this month. With restaurants open for business post-lockdown and vaccines on the way, investors are betting that Indians will soon be thronging fast food chains.

The stock began trading at ₹ 115 versus an offer price of ₹ 60 and climbed to a high of ₹ 138.40 at the 3:30 p.m. close of trade in Mumbai. The debut is the best since 2017 when Astron Paper & Board Mill Ltd. jumped 142%.

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