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Burger King sets ₹810cr IPO
November 27, 2020
Private fairness company Everstone Group promoted Burger King India Ltd on Friday set the rate band at ₹59 – per share for its initial public offer (IPO) that’s slated for launch on 2 December.
The proposed IPO will see the enterprise improve ₹810 crore, comprising a fresh issue of stocks amounting to ₹450 crore, at the same time as the promoter entity QSR Asia Pte Ltd will sell as much as 60 million shares, aggregating to ₹360 crore on the top end of the charge band.
Burger King India will use the funds to roll out of latest organization-owned Burger King Restaurants through manner of repayment or prepayment of brilliant borrowings of the employer received for putting in of new agency-owned Burger King Restaurants and capital expenditure incurred for putting in of recent organization-owned Burger King Restaurants, the organization said in its red herring prospectus.
The company has also raised a pre-IPO investment of ₹92 crore from public markets investor Amansa Investments Ltd. Shares were allocated to Amansa at a price of ₹58.5 per share.