- September 10, 2019 / 4 min readThe capital will go into launching new stores, refurbishing existing ones and transaction-related expenses.
Everstone Group, the master franchise owner of Burger King in India, has infused Rs 45 crore and a loan facility of Rs 150 crore into the American fast food chain. The capital will go into launching new stores, refurbishing existing ones and transaction-related expenses.
With the fresh infusion, Burger King India’s paid-up capital has gone up to Rs 366.48 crore. It has also increased its authorised capital to Rs 405 crore from Rs 350 crore.
Mohit Yadav, Founder of business intelligence platform Veratech Intelligence, said, “The deficit in current paid up of Rs 366.48 crore and authorised capital of Rs 405 crore leads to the inference that there could be another round of capital infusion from Everstone in the near future.”
“The line of credit of up to Rs 150 crore, which Burger King can borrow in 12 months, demonstrates Everstone’s confidence in its Indian business to generate considerable cash flow in coming years for timely service of the debt. Burger King India, which runs more than 214 outlets across the country, has no borrowings as of now,” he added.
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