Burger King files IPO papers; plans to raise Rs 542 cr via fresh issue of shares

By: |
October 22, 2020 6:59 PM

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.

burger king ipo subscription, burger king ipo status, burger king ipo price, burger king ipo gmp,The three-day initial public offer, which will close on Friday, December 2, 2020, consists of a fresh issue of Rs 450 crore

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.

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 company’s shares are proposed to be listed on the BSE and the NSE. 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 is one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants. Earlier, the company had filed draft papers with Sebi in November 2019 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.

Now, it has increased the size of the fresh issue. 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 per cent.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Burger King India IPO: Listing gains in offing; retail quota subscribed nearly 37 times so far
2Burger King India IPO fully subscribed on day 1; retail portion booked over 15 times
3Lucknow Municipal Bonds Listed: CM Yogi Adityanath rings bell at BSE; bonds to fetch 8.5% interest