- October 26, 2020 / 6 min readIt has now increased the funding issue size, in the additional papers filed with the market regulator.
QSR chain Burger King India has filed papers with market regulator Sebi to raise ₹ 542 crore through fresh issuance of shares.
Burger King's initial public offer (IPO) will consist of fresh issue of equity shares amounting to ₹ 542 crore and an offer for sale of up to 6 crore equity shares by the promoter QSR Asia.
The shares will be listed on the BSE and the NSE.
The QSR chain had filed draft papers with Sebi earlier in November 2019 to raise ₹ 400 crore through fresh issues of shares and an offer for sale of up to 6 crore equity shares by QSR Asia.
It has now increased the funding issue size, in the additional papers filed with the market regulator.
Burger King India will use the IPO proceeds to start new company-owned Burger King Restaurants and for general corporate purposes.
It is also planning to roll out around 700 restaurants, including sub-franchised outlets by December 31, 2026, shared the draft prospectus.
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