Burger King India files DRHP with SEBI

Burger King India Limited, one of the fastest growing international QSR chains in India during the first five years of our operations based on number of restaurants (Source: Technopak) filed its DRHP with SEBI.

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 at 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.

The Initial Public Offering (IPO) comprises of a fresh issue aggregating up to Rs. 4,000 million by the company (“Fresh Issue”) and an offer for sale of up to 60,000,000 equity shares by QSR Asia Pte. Ltd. (“Promoter Selling Shareholder”). The company, in consultation with the BRLMs, is considering a private placement of such number of equity shares for cash consideration aggregating up to Rs. 1,500 million, at its discretion, prior to filing of the red herring prospectus with the ROC (“Pre-IPO Placement”). If the Pre-IPO Placement is completed, the number of equity shares issued pursuant to the Pre-IPO placement will be reduced from the fresh issue, subject to a minimum offer size of 10% of the post offer paid-up equity share capital of the company being offered to the public.

The Company proposes to utilize the Net Proceeds raised through the Fresh Issue for: (i) Funding roll out of new Company-Owned Burger King Restaurants; and (ii) General corporate purposes.

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.