The quick service restaurant chain’s IPO performance almost matched state-run Mazagon Dock Shipbuilders’ share sale in October which was subscribed more than 157.41 times. Burger King’s ₹810 crore IPO received bids of 11.67 billion shares, against the 74.49 million on offer, showed data received till 5pm on Friday, the final day of bidding.
— Mint
The Company also raised INR 1,500 million through a rights issue and a private placement, as a part of its pre-IPO placement before the filing of its red herring prospectus.
IndusLaw advised the book running lead
Cyril Amarchand Mangaldas acted as Indian legal counsel to
Cyril Amarchand Mangaldas also acted as counsel to the
Ashurst acted as international legal counsel to the book running lead
2020-12-01
Deal value: INR 8,100 million
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.
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Why are Indian IPOs so tiny?
An average Chinese IPO size is in the billions. BK only around USD 110.
Not that buyers aren't interested. Issue oversubscribed over 150 times (Rs 70,000 crores).
Also, the genius who said cap marks lawyers make pennies - associates make the same as any other associate in any other team, albeit in a tier 1 firm - because clearly only tier 1 law firms have a capital markets team. Also, partners make money depending on their targets - same as any other team.
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