Net proceeds from the fresh issue of shares will be utilised for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes. 
Net proceeds from the fresh issue of shares will be utilised for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes. Burger King India has filed draft papers with regulator Securities and Exchange Board of India (Sebi) to raise Rs 542 crore through an initial public offering (IPO). Burger King's upcoming IPO comprises a fresh issue of equity shares aggregating up to Rs 542 crore and an offer for sale of up to 6 crore equity shares by QSR Asia, the promoter.
Net proceeds from the fresh issue of shares will be utilised for funding the rollout of new company-owned Burger King Restaurants and for general corporate purposes.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are managers of the share sale.
The company's shares are proposed to be listed on the BSE and the NSE.
As of September 2020, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities across India, as per the addendum to the draft red herring prospectus (DRHP).
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The company has revised the target for the fresh issue of shares to Rs 542 crore. In November 2019, the company filed draft papers with SEBI to raise Rs 400 crore through fresh issue of shares and an offer for sale of up to 6 crore equity shares by QSR Asia.
The regulator has given relaxation till March 31 to companies in respect of filing of fresh offer documents in case of an increase or decrease of issue size by 50 percent.
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