Restaurant Brands hits new low post listing of shares issued to QIBs

A total of 108.40 million shares allotted to qualified institutional buyers started trading on the exchanges on Friday, February 18, 2022.

Shares of Restaurant Brands Asia Limited (formerly known as Burger King India) hit a record low of Rs 108.25, down 15 per cent in Monday’s intra-day trade, falling as much as 19 per cent in the past two trading days as fresh shares allotted by the company to qualified institutional buyers (QIBs) started trading on the exchanges on Friday, February 18, 2022. In the past three trading days the stock has dropped 23 per cent from a level of Rs 139.90.

The stock of the quick service restaurant chain company has fallen below its qualified institutional placement (QIP) issue