Indian investors increase appetite for Burger King, other global fast-food chains
Indian investors are showing increased appetite in global fast-food chains such as US-based Burger King, Mrs Bector, and McDonald's franchise rights holder Westlife Development.
Burger King's stock has gone up by 141 percent from its offer price of Rs60 during its debut on the bourse in December 2020.
Bakery items manufacturer Mrs Bector, 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 attracted substantial investments.
Indians are also putting their money on other listed quick-service restaurants (QSRs) such as Domino's Pizza franchisee Jubilant Foodworks.
The news of Domino's launching biryani and kebab outlets sent its stocks soaring.
According to Naveen Trivedi, an analyst at the brokerage firm HDFC securities, the online delivery market started growing when smaller restaurants were forced to close and the QSRs tailoring their menus to suit Indian tastes.
India’s QSR segment is heavily dominated by US-based global players including McDonald’s, Pizza Hut, and Burger King.