Sensex Ends 110 Points Lower; Smallcap & Midcap Stocks Outperform

Burger King intends to utilize the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes.

Burger King was the fastest growing international QSR chain in India during the first five years of their operations, based on the number of restaurants. Their master franchisee arrangement provides them with the ability to use Burger King's globally recognized brand name to grow its business in India.

As per the company's red herring prospectus, the Burger King brand is the second-largest fast-food burger brand globally as measured by the total number of restaurants, with a global network of over 18,000 restaurants in more than 100 countries and US territories, as of June 30, 2019.

So far this year, 12 companies have raised nearly Rs 250 billion through IPOs compared with Rs 123.6 billion raised by 16 companies in 2019.

Some of the companies that had deferred their IPO plans, now want to tap the market again on robust investor appetite.

How the above IPO sails through remains to be seen. Meanwhile, we will keep you updated on the latest developments in this space.

Moving on to stock-specific news...

Shares of gas transmission companies witnessed buying interest today after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure.

Oil regulator PNGRB has simplified the country's gas pipeline tariff structure to make fuel more affordable for distant users and to attract investment for building gas infrastructure.

As per reports, the PNGRB has notified regulations for a 'unified' tariff structure for over a dozen pipelines that form the National Gas Grid which will lead to a 20-30% rise in transportation charges paid by users near the source but a reduction for consumers in the hinterland.

Currently, the tariff is levied in proportion to the distance transported - the longer the distance, the higher is the charge. This resulted in consumers away from the coast paying higher charges as compared to those near it.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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