Burger King India gets Sebi approval for IPO

Burger King India gets Sebi approval for IPO
Burger King India on Tuesday has received markets regulator Sebi's approval for an initial public offer.

As per the latest update with the Securities and Exchange Board of India (Sebi), the company has obtained its final observations on January 24. The regulator's observations are necessary for any company to launch public issues such as initial public offer, follow-on public offer and rights issue.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Limited are the book running lead managers.

The equity shares will be listed on BSE and NSE.a

As the national master franchisee of the BURGER KING brand in India, the Company have exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India. Their master franchisee arrangement provides with the ability to use Burger King’s globally recognised brand name to grow our business in India while leveraging the technical, marketing and operational expertise associated with the global Burger King brand.

As of June 30, 2019, Burger King India had 202 restaurants, including seven Sub-Franchised Burger King Restaurants, across 16 states and union territories and 47 cities across India. As at the date of this Draft Red Herring Prospectus, the Company had 216 Company-owned Burger King Restaurants and eight Sub-Franchised Burger King Restaurants.




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