Burger King files IPO paper to raise Rs 542 Cr via fresh share issue.

Advertisement

Burger King files IPO papers;to raise Rs 542 cr       through fresh issue of shares.Burger King IPO

The company is one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants.As of September 2020, the company has 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India, as per the addendum.
The company’s shares are proposed to be listed on the BSE and the NSE.

Burger King India Ltd, a quick service restaurant chain, has filed draft papers with markets regulator Sebi to raise Rs 542 crore through fresh issuance of shares in the IPO. According to the addendum to the draft red herring prospectus (DRHP) filed with Sebi on Wednesday, Burger King’s IPO comprises 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.
Earlier, the company had filed draft papers with Sebi in November 2019 to raise Rs 400 crore

Advertisement
Advertisement
through fresh issue of shares and an offer for sale of up to 6 crore equity shares by QSR Asia.
Net proceeds from the fresh issue are proposed to be utilised for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes.
The initial share-sale is being managed by Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial.
The regulator has given relaxation till March 31 to companies in respect of filing of fresh offer document in case of increase or decrease of issue size by 50%.

 

 

 

               

      

Advertisement

Leave a comment