Burger King gets Sebi approval to launch IPO
Updated : January 29, 2020 06:23 AM IST
Going by the draft papers, Burger King's offer comprises fresh issue of equity shares aggregating up to Rs 400 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 roll-out of new company-owned Burger King Restaurants and general corporate purposes.
As of June 30, 2019, the company had 202 restaurants including seven sub-franchised Burger King Restaurants across 16 states and union territories and 47 cities across India.