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Burger King India shares soar in market debut

Burger King India shares soar in market debut

FILE PHOTO: The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, Jul 30, 2020. (Photo: REUTERS/Benoit Tessier/File Photo)

BENGALURU: Burger King India jumped nearly 88 per cent in its market debut on Monday (Dec 14), after it raised about US$110 million, signalling upbeat sentiment for the country's food service sector.

Shares of the Indian company, which runs the franchise of Restaurant Brands International's US chain Burger King, opened at 112.50 rupees (US$1.50) per share, above the initial public offering price of 60 rupees per share.

At the debut price, the company had a market value of 42.94 billion rupees (US$583.11 million).

Source: Reuters/kv

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