Burger King India Ltd. has raised Rs 364.5 crore from a group of institutional investors ahead of its initial public offering (IPO) opened for subscription today.
The anchor allotment was done at Rs 60 per share. Fidelity India Focus Fund is the biggest investor allocating 8.23 per cent of the anchor investment portion followed by Eastspring Investments India Consumer Equity Open Ltd. allocating 7.13 per cent and the Government of Singapore with 6.79 per cent.
Other investors in the quick service restaurant chain include Amansa Holdings Pvt Ltd., Fidelity Investment Trust – Fidelity Emerging Markets Fund, ICICI Prudential Midcap Fund and Aditya Birla Sun Life Small Cap Fund allocating 6.72 per cent, 6.35 per cent, 4.76 per cent and 4.42 per cent, respectively.
Capital market firm Everstone Capital through its investment vehicle QSR Asia Pte Ltd., promoter entity owns 94.34 per cent stake in Burger King India. The IPO comprises a fresh issuance of equity shares for the amount not exceeding more than Rs 400 crore and an offer for sale (OFS) of up to 60 million equity shares by QSR Asia Pte Ltd.
Mumbai-based Burger King India will use the funds for repaying its existing debt and finance capital expenditure for the new outlets. As of first half of FY21, the company has a total debt of Rs 757 crore.