Lawstreet Journal

Burger King India Files Draft Papers with SEBI for IPO to Raise Rs. 542 Crores

Lawstreet Journal 25 Oct 2020 1:29am

Image courtesy: Lawstreet Journal Business Burger King India Files Draft Papers with SEBI for IPO to Raise Rs. 542 Crores

Burger King is one of the fastest-growing quick-service restaurant chains in India.

It entered India in 2014 and filed for an IPO in November 2019.

Burger King has 202 restaurants including seven sub-franchised Burger King Restaurants across 16 states and union territories and 47 cities across India as of 2019.

In January 2020, the fast-food chain received the capital market regulator, Securities, and Exchange Board of India's consent to float its initial public offering.

Burger King India has filed draft papers with the regulator Securities and Exchange Board of India (SEBI) to raise Rs 542 crore through an initial public offering (IPO).

 The initial public offering (IPO) of Burger King India comprises a fresh issue of equity shares aggregating up to Rs 542 crore and an offer for sale of up to 6 crore equity shares by QSR Asia, the promoter as per the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

 Earlier in November 2019, the company filed draft papers with SEBI to raise Rs 400 crore through fresh issue of shares and an offer for sale of up to 6 crore equity shares by QSR Asia.

 As per the addendum to the draft red herring prospectus (DRHP) as of September 2020, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India.

The initial share-sale managers are Kotak Mahindra Capital Company, CLSA India Pvt Ltd, Edelweiss Financial Services, and JM Financial.

The company would utilize fresh issue proceeds for funding roll-out of new company-owned Burger King… Continue Reading...


Tagged: Burger King   Securities and Exchange Board of India (SEBI)  
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