Shares of quick-service restaurant operator Burger King India on Monday made a stellar debut on the bourses as it settled with gains of 131 per cent over its issue price.

On the BSE, the scrip listed at Rs 115.35 — a gain of 92.25 per cent over its issue price of Rs 60 per share.

The stock later hit a high of Rs 138.40 before finally closing at Rs 138.40, a rise of Rs 78.40, or 130.67 per cent, over the offer price. The finish gave it a market cap of Rs 5,282.10 crore.

Similarly, on the NSE, the scrip ended at Rs 135, a rise of 125 per cent over the issue price.

Burger King India’s share sale was subscribed 156.65 times earlier this month.

The initial public offering had comprised a fresh issue of shares aggregating up to Rs 450 crore by the company and an offer for sale of up to 60,000,000 shares by QSR Asia Pte Ltd.

The price range for the share float was fixed at Rs 59-60 per share.

At present, the quick service restaurant chain operates 268 stores in India and out of them, eight are franchises, mainly located at airports, while the rest are owned by the company.

It had allotted 6,07,50,000 equity shares to 55 anchor investors and raised Rs 364.50 crore ahead of the IPO.

According to a report from Angel Broking, in the last six years of its operations in India, the company has opened 268 stores.