Burger King files IPO papers; plans to raise Rs 542 Cr via fresh issue of shares
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 six 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 corporate purposes. The initial share-sale is being managed by Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial.