Burger King India to file for Rs 1,000-crore IPO this week: Details here
Burger King India , a major player in the domestic quick service restaurant (QSR) space, will file a document for an initial public offer (IPO) this week with the Securities and Exchange Board of India (Sebi), said people with direct knowledge of the development. The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore, which will be used to fuel the burger chain’s expansion plan. Assuming the regulatory approval process takes the usual time, Burger King India would list early next year, joining rivals Jubilant FoodWorks (operator of the Domino’s Pizza chain) and Westlife Development (master franchisee of McDonald’s in the western and southern markets) in going public. Typically, Sebi takes between four and six weeks to vet and clear an IPO document. Everstone owns and operates Burger King’s branded restaurants across India and Indonesia, as part of its food and beverage Asia portfol...