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Global fast-food chains are the new favourite of Indian stock markets
After Burger King’s stellar debut, its stock has gone up by more than 141% from its offer price of Rs 60. Mandel Ngan/AFP
As the Indian stock markets continue to rally, investors have found a new favourite: global fast-food chains.
Take for instance US-based Burger King. After the stellar debut on the bourse in December 2020, the company’s stock has gone up by more than 141% from its offer price of Rs 60.
Similarly, Mrs Bector, a premium biscuit and bakery items manufacturer which supplies buns to outlets of KFC, Burger King, Carl’s Jr and Westlife Development (which holds the franchise rights for McDonald’s in western and southern India), also received strong traction from investors. Its initial public offering was subscribed 198 times, and the stock now trades at around 48% premium to the IPO price of Rs 288.
January 14, 2021
As the Indian stock markets continue to rally, investors have found a new favourite: global fast-food chains.
Take for instance US-based Burger King. After the stellar debut on the bourse in December 2020, the company’s stock has gone up by more than 141% from its offer price of Rs60.
Similarly, Mrs Bector, a premium biscuit and bakery items manufacturer which supplies buns to outlets of KFC, Burger King, Carl’s Jr, and Westlife Development (which holds the franchise rights for McDonald’s in western and southern India), also received strong traction from investors. Its initial public offering was subscribed 198 times, and the stock now trades at around 48% premium to the IPO price of Rs288.