Burger King India IPO opens on Dec 2


MUMBAI: Burger King India Ltd, one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants, will open the Bid/Offer period in relation to its initial public offer of equity shares of face value of Rs 10 each (“Equity Shares” and such initial public offer, the “Offer”) on December 2, 2020. The Bid/Offer period will close on December 4, 2020. The price band of the Offer has been fixed at Rs 59 to Rs 60 per Equity Share.  The initial public offering comprises of a fresh issue of Equity Shares aggregating up to Rs 4,500 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”) (“Offer for Sale”, and together with the fresh issue, “Offer”).  Bids can be made for a minimum of 250 Equity Shares and in multiples of 250 Equity Shares thereafter.  The Net Proceeds from the Fresh Issue are proposed to be utilised for funding roll out of new Company-owned Burger King Restaurants by way of: Repayment or prepayment of outstanding borrowings of the Company obtained for setting up of new Company-owned Burger King Restaurants; and Capital expenditure incurred for setting up of new Company-owned Burger King Restaurants, and for general corporate purposes.  NT