Burger King IPO to open on December 2, bidding range Rs 59-60 per share

Burger King IPO to open on December 2, bidding range Rs 59-60 per share

Mumbai. The IPO of the restaurant chain Burger King will hit the capital market on December 2 and the price range for bidding shares under the company's initial public offering (IPO) is Rs 59-60 per share. The company said in a virtual conference to raise investment that the US subsidiary of US-based Burger King will raise Rs 810 crore under the proposed IPO. It will issue new shares worth Rs 450 crore.

The company said that its promoter unit QSR Asia will sell up to 60 million shares, valued at around Rs 360 crore. The company raised Rs 58.08 crore through rights issue and Rs 91.92 crore through preferential allocation as part of pre-IPO planning.

Burger King India CEO and board member Rajeev Verma told PTI that the issue of new shares had come down from Rs 600 crore to Rs 450 crore. The company said that the funds raised through the IPO would be used primarily to expand company-owned stores across the country and to repay debt.

Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift is proving to be the power player for the country's largest car manufacturer, Maruti Suzuki. The company has so far achieved a milestone of 2.3 million sales. In 2020, the strong performing car is still at the top. Despite the Corona epidemic last year, the car has performed well.

The Swift emerged as the best-selling passenger vehicle in the calendar year 2020, recording a total sales of 160,700 units. With this, Maruti ensured that the premium hatchback maintained its dominant position in the market where it was first launched in 2005.

Swift created a record

Swift took five years to reach five lakh in sales by 2010 and, like its name, it doubled to 10 lakh by 2013. At the same time, it took another five years to reach the next five million sales.
Shashank Srivastava, executive director and head of marketing sales, Maruti Suzuki, said that, Maruti Suzuki Swift has been the best-selling premium hatchback in the country in the last 15 years with over 2.3 million customers. He further said that, with continued customer support, I believe that Swift will successfully achieve many more milestones in the future.

Maruti's first choice of youth

Maruti underlined that about 53% of Swift customers are under 35 years of age, which reflects the car's preference among younger buying audiences. The car's excellent design and its cabin reflect the true strength of the Swift. If sources are to be believed, the company can also launch its facelift variant soon.

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