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By EquityPandit

EquityPandit

EquityPandit
BUSINESS

Burger King India IPO Set To Open At Rs 59-60 Per Share

The initial public offering (IPO) of quick-service restaurant (QSR) chain Burger King India Ltd will open on December 2, for three days. The price band for the IPO has been set at Rs 59-60 per share.
Burger King aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band.
The company had undertaken a pre-IPO placement, by way of the rights issue, of Rs 58.08 crore at a price of Rs 44 per share to the promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share.
Hence, as a result, the fresh issue size has been reduced to Rs 450 crore from Rs 600 crore earlier, as per the advertisement of IPO published in newspapers.
Burger King India has also reserved up to 10 per cent portion of the IPO for retail investors, up to 15 per cent for non-institutional investors, and up to 75 per cent for qualified institutional investors. Bids can be made for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter.
The initial share-sale is being managed by Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services, and JM Financial. The company’s shares are proposed to be listed on the BSE and the NSE.

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ECONOMY

India’s Manufacturing PMI Hits 8-Month High at 58.1 in March

Dhruva Kulkarni

India’s manufacturing activity surged in March 2025 as the PMI climbed to 58.1, marking an eight-month high and signalling a strong recovery.

New orders hit their highest level since July 2024, driven by strong customer interest, favourable demand, and effective marketing.

Production expanded sharply, though international sales growth slowed to a three-month low, with exports rising in Asia, Europe, and the Middle East.

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Finished goods inventories saw their steepest decline over three years, prompting firms to boost input purchases at the fastest rate in seven months.

Supply chains remained stable, with lead times improving for the thirteenth straight month, while input costs rose due to higher prices of copper, electronics, leather, LPG, and rubber.

Hiring increased steadily, though capacity pressures limited job growth. Manufacturers remained optimistic about future output, supported by strong demand and pending projects.

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ECONOMY

US slams high India duties on farm goods before 2nd April tariffs

Dhruva Kulkarni

The Donald Trump administration has raised concerns over India’s high tariffs on American farm goods just days before reciprocal duties take effect, increasing pressure on India to ease restrictions in its agriculture sector.

The White House criticised India’s 100% tariff on American farm products, pointing to similar trade barriers in the EU, Japan, and Canada.

A US report highlighted India’s 39% tariff on agricultural imports—eight times the US rate—covering items like apples, corn, and coffee. It also noted non-tariff barriers such as import bans and licensing requirements.

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Despite opposition from Indian farmers to free trade deals, New Delhi is considering lowering tariffs on select US agricultural products.

India has already reduced duties on bourbon whiskey and high-end motorcycles, with both nations aiming for a trade deal by October or November.

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ECONOMY

Provident Fund Update: Govt Raises Auto-Settlement Limit to ₹5 Lakh for 7.5 Crore Indians

Dhruva Kulkarni

EPFO is set to enhance the auto settlement limit for advance claims from Rs 1 lakh to Rs 5 lakh, pending final approval from the Central Board of Trustees (CBT), benefiting 7.5 crore members.

The auto-mode claim settlement, introduced in April 2020 for illness, now covers education, marriage, and housing, with claims processed within three days.

In the current financial year, EPFO has settled a record 2.16 crore auto-claims as of 6th March 2025, up from 89.52 lakh in 2023-24. The rejection rate dropped to 30% from 50% last year, while validation formalities have been reduced from 27 to 18, with plans to cut them to six.

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The process is now IT-driven, eliminating human intervention and reducing claim settlement time from 10 days to 3-4 days.

EPFO will also introduce UPI-based PF withdrawals by May or June 2025, potentially benefiting other schemes like the General Provident Fund (GPF) and Public Provident Fund (PPF).

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ECONOMYINDIA

Govt to impose 10% import duty on desi chana from 1st April

Dhruva Kulkarni

The government will impose a 10% import duty on desi chana (Bengal gram) from 1st April.

In May last year, the government allowed duty-free import of chana to boost domestic availability and control prices. This waiver was set to last until 31st March 2025.  

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According to a finance ministry notification dated 27th March, the import of Bengal gram will now attract a 10% duty starting from 1st April.  

Government data estimates chana production at 11.5 million tonnes in 2024-25, up from 11 million tonnes in the previous year.

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ECONOMY

India Considers Tariff Cuts on Key US Imports, Decision Pending

Dhruva Kulkarni

India is exploring tariff reductions on select US imports, with key government departments actively discussing the matter. While deliberations are still in the early stages, no final decision has been made.

A comprehensive review of import categories and existing duties is underway to assess potential reductions to strengthen trade and economic ties between the two nations.

Some key product categories that may see lower basic Customs duties include:

  • Medical & Scientific Instruments (7.5%-10%)
  • Cruise Ships (10%)
  • Aircraft (2.5%)
  • Spacecraft (10%)
  • Cars (100% for CIF value above $40,000, 70% below this threshold)
  • Turbo Jets/Propellers (7.5%)
  • High-End Jewellery (20%)
  • Gems & Jewellery (20%)
  • Footwear (35%)
  • Plastic Polymers (7.5%-15%)
  • Organic Chemicals (7.5%)

In 2024, India’s imports from the US reached $35 billion, reflecting a 6.7% increase from the previous year.

While discussions on tariff cuts continue, stakeholders closely watch developments that could impact trade flows between countries.

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