On Monday, shares of Burger King India jumped nearly 88% in its market debut following its IPO wherein it raised about $110 million.

The development underscores the growth potential in the country’s burgeoning food service sector.

Shares of the Indian company, which runs the franchise of Restaurant Brands International Inc’s U.S. chain Burger King, opened at 112.50 rupees per share, above the initial public offering price of 60 rupees per share. At the debut price, the company had a market value of $583.11 million (42.94 billion rupees).

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