Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Economy

As India’s fast-food craving grows, Burger King has whopper IPO | Business and E…

3 months ago
in Economy
3 min read
As India’s fast-food craving grows, Burger King has whopper IPO | Business and E…
Share on FacebookShare on Twitter


A dent in incomes and a fear of COVID-19 has made Indians switch to fast food restaurants, helping Burger King’s IPO soar.

As the coronavirus slashes incomes and raises concerns over sanitation, a growing number of Indians are switching to fast-food chains, a trend that helped Burger King India’s shares surge on their market debut on Monday.

Shares of Burger King India, which runs the franchise of Restaurant Brands International Inc’s US chain Burger King, opened at 112.50 rupees ($1.53) each, almost double the company’s initial public offer (IPO) price of 60 rupees ($0.82) before climbing to 135 rupees ($1.83), indicating investor optimism for the country’s food services industry, analysts said.

With India’s share market trading at an all-time high after six straight weeks of gains, mom-and-pop investors are hungry for a piece of the action, something that likely explains the excitement surrounding the Burger King India IPO, Hemang Jani, head of equity strategy at Motilal Oswal Financial Services, told Al Jazeera.

The fast-food chain’s IPO also benefitted from several other factors. For one, it is a well-known brand globally and in India, Jani said. For another, the coronavirus pandemic – India has the second-highest number of cases at 9.8 million after the US – has discouraged people from dining out.

The pandemic has also devastated the economy – which contracted 7.5 percent in the three months through September from a year before – and led to a dip in incomes. As a result, Indians are looking not only for cheaper dining options but also switching to outlets that offer take-out and home delivery services, Jani said.

Riding on the coattails of McDonald’s

Burger King launched in India in 2015 and today has 268 restaurants across 57 cities. It has about 5 percent of the country’s so-called quick service restaurant (QSR) market which is expected to hit revenues of 348 billion rupees ($4.7bn) by 2025, according to Motilal Oswal estimates.

One reason for some of that growth is that fast-food chains are a well-established concept in India now thanks to the work done by early entrants such as McDonald’s and KFC, says Ankur Bisen, senior vice president of retail and consumer products at Technopak, a retail industry consultancy firm.

Burger King did not have to ‘sweat it out’ in India when it launched in 2015, unlike earlier entrants such as McDonald’s, an analyst says [File: Benoit Tessier/Reuters]

“Burger King is at an advantage because it didn’t have to sweat it out like McDonald’s which created the category in India,” Bisen told Al Jazeera.

When McDonald’s launched in India in the mid-1990s, it had to adjust its prices and menu to attract consumers in a very price-sensitive market.

Introducing vegetarian options, replacing beef  – something most Hindus would be enraged to see on a menu – with more popular chicken, creating supply chains for suitable varieties of potatoes, condiments and…



Go to the news source: As India’s fast-food craving grows, Burger King has whopper IPO | Business and E…

Tags: asiaBurgerBusinessBusiness and Economycoronavirus pandemiccravingEconomyfastfoodFinancial MarketsgrowsIndiasIPOKingNewsRetailwhopper
Previous Post

sensex today: Traders’ Diary: Nifty will witness a bounce if it holds 12,850-12,…

Next Post

Gold Breaks Down to Fresh Four-Month-Lows

Related Posts

PH Central Bank Governor: ‘Elevated’ inflation does not require monetary respons…
Economy

PH Central Bank Governor: ‘Elevated’ inflation does not require monetary respons…

by Forex News
March 8, 2021
0

PH Central Bank Governor: 'Elevated' inflation does not require monetary response| ANC ANC 24/7 Go to the news...

Read more
Shares falter as tech skids, yields and oil ring inflation alarm By Reuters
Economy

Shares falter as tech skids, yields and oil ring inflation alarm By Reuters

by Forex News
March 8, 2021
0

© Reuters. FILE PHOTO: A man wearing a protective face mask talks on his mobile phone in front of...

Read more
Increase in price for some petroleum products
Economy

Increase in price for some petroleum products

by Forex News
March 8, 2021
0

Consumers will be paying more for some petroleum products, from midnight Sunday, March 7. Gasoline will retail at $3.57...

Read more
Canada home prices boil over as policymakers sit back By Reuters
Economy

Canada home prices boil over as policymakers sit back By Reuters

by Forex News
March 8, 2021
0

4/4 © Reuters. FILE PHOTO: A Royal LePage real estate sign is marked "Sold" in front of a house...

Read more
Investors haven’t grasped inflation is dead ahead, Mark Zandi warns
Economy

Investors haven’t grasped inflation is dead ahead, Mark Zandi warns

by Forex News
March 7, 2021
0

Investors may want to hold on even tighter.Moody's Analytics Mark Zandi believes Wall Street is significantly underestimating the seriousness...

Read more
Aussie billionaire Lex Greensill’s fall from grace could have significant implic…
Economy

Aussie billionaire Lex Greensill’s fall from grace could have significant implic…

by Forex News
March 7, 2021
0

As fairytales go, Lex Greensill's meteoric rise wasn't your classic rags to riches story.Hailing from the rich red soils...

Read more
Live Foreign Currency Exchange Rates
Economy

British ports say they are not ready for Brexit customs checks | Business

by Forex News
March 7, 2021
0

A string of British ports are urging the government to delay the next wave of Brexit red tape, saying...

Read more
I gave my employees a $15 minimum wage. It didn’t destroy my business.
Economy

I gave my employees a $15 minimum wage. It didn’t destroy my business.

by Forex News
March 7, 2021
0

Raising the wages of my employees helped our business and the local economy. Millions of Americans are living in...

Read more
Live Foreign Currency Exchange Rates
Economy

Women more likely to lose jobs and do more unpaid work during Covid recession, r…

by Forex News
March 7, 2021
0

Australian women were hit by a “triple whammy” during the Covid-19 induced recession, with a new report from the...

Read more
Live Foreign Currency Exchange Rates
Economy

Exodus of foreign workers ‘a threat to UK recovery’ | World news

by Forex News
March 7, 2021
0

Britain’s economic recovery from the pandemic risks being seriously damaged by thousands of “missing” overseas workers who have left...

Read more
Next Post
Gold Breaks Down to Fresh Four-Month-Lows

Gold Breaks Down to Fresh Four-Month-Lows

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Brazil enjoys fun in the sun as COVID-19 deaths top 200,000

Brazil enjoys fun in the sun as COVID-19 deaths top 200,000

2 months ago
Coronavirus brought economic catastrophe. Here are 10 experts on how to recover

Coronavirus brought economic catastrophe. Here are 10 experts on how to recover

3 months ago
British Economy’s Collapse in 2020 Was Worst Since 1709: Live Updates

British Economy’s Collapse in 2020 Was Worst Since 1709: Live Updates

3 weeks ago
Eco Week: Lagarde Poised to End 2020 in Fanfare of ECB Stimulus

Eco Week: Lagarde Poised to End 2020 in Fanfare of ECB Stimulus

3 months ago

Today Market News

Rupee falls 14 paise to 73.16 against US dollar in early trade
Live

Rupee falls 14 paise to 73.16 against US dollar in early trade

March 8, 2021
PH Central Bank Governor: ‘Elevated’ inflation does not require monetary respons…
Economy

PH Central Bank Governor: ‘Elevated’ inflation does not require monetary respons…

March 8, 2021
MTAR Technologies IPO Subscription details: Retail investors expect bumper listi…
Live

MTAR Technologies IPO Subscription details: Retail investors expect bumper listi…

March 8, 2021
Shares falter as tech skids, yields and oil ring inflation alarm By Reuters
Economy

Shares falter as tech skids, yields and oil ring inflation alarm By Reuters

March 8, 2021
Covid-19 News: Live Updates on the Virus, Vaccines and Variants
World

Covid-19 News: Live Updates on the Virus, Vaccines and Variants

March 8, 2021
Increase in price for some petroleum products
Economy

Increase in price for some petroleum products

March 8, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz