Last updated : October 23, 2020 10:43 am
The international fast food chain filed a draft prospectus for an Initial Public Offering (IPO) and aspires to raise Rs. 541.9 crore out of the recent issue.
The American multinational chain of hamburger fast food resturants, Burger King India has filed a draft prospectus for an Initial Public Offering (IPO). The company aspires to raise Rs. 541.9 crore out of the recent issue.
The addendum to the draft red herring prospectus stated that the company has take on and may further undertake a pre-IPO placement of shares of Rs. 150 crore at its discretion, before the Red Herring Prospectus was filed with the RoC.
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“In this regard, our company has undertaken a Pre-IPO Placement by way of a rights issue of 1,32,00,000 equity shares to our promoter selling shareholder for cash at a price of Rs. 44 per equity share aggregating to Rs. 580.80 million pursuant to the resolution of the board,” it added.
With a renowned worldwide existence, Burger King has filed draft papers with the capital markets to raise Rs. 400 crore through new issue of shares and a tender for sale of up to 6 crore equity shares by QSR Asia, before.