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Company News

Burger King's India unit looks to raise 4 bln rupees in IPO

BENGALURU, Nov 4 (Reuters) - The Indian arm of fast-food chain Burger King has filed for an initial public offering (IPO) to raise up to 4 billion rupees ($56.58 million) via the issue of new shares, according to a draft prospectus seen by Reuters.

Private equity firm Everstone Capital, which operates Burger King India, is considering a private placement of shares worth 1.5 billion rupees ahead of the IPO, according to the draft red herring prospectus bit.ly/34o0JAw.

Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial are lead managers of the IPO.

$1 = 70.7000 Indian rupees Reporting by Chandini Monnappa in Bengaluru Editing by Saumyadeb Chakrabarty

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