Burger King India on January 28, 2020 has received market regulator
Securities Exchange Board of India's (SEBI) approval for floating an initial public offering
(IPO). The company had filed its draft IPO papers in November and obtained final observations on January 24, 2020 as per the latest update with the SEBI.
Companies willing to launch public issues such as initial public offer, follow-on public offer and rights issue have to obtain the regulator’s observations mandatorily. Burger King’s offer comprises fresh issue of equity shares aggregating up to Rs. 400 crores and an offer for sale of up to Rs. 6 crores' equity shared by the promoter,
QSR (Quick Service Restaurant) Asia. Net proceeds from the issue are proposed to be utilized for funding the roll out of new company-owned Burger King restaurants and for general corporate purposes.
Kotak Mahindra Capital Company, CLSA India Pvt. Ltd., Edelweiss Financial Services and JM Financial are responsible for the management of the initial share sale. The company’s shares are proposed to be listed on the
Bombay Stock Exchange (BSE) and
National Stock Exchange (NSE). Burger King is one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants. As of June 30, 2019, the company had 202 restaurants including seven sub-franchised Burger King restaurants across 16 states and union territories and 47 cities across India, as per the Draft Red Herring Prospectus (DHRP) which is an offer document released by a company to give out detailed information about it's business operations and financial status. Author: Shubham Jindal
Burger King to Raise Rs 364.5 Crores from Anchor Investors Ahead of IPO
Business
Dec 03, 2020
Atharwa Gauraha
(
Editor: Ekta Joshi
)
6 Shares
On Tuesday (December 1, 2020), the US-based fast service restaurant (QSR) chain Burger King's Indian arm raised Rs 364.5 crore from anchor investors ahead of its initial share sale, which opened on Wednesday (December 2, 2020) for public subscription.According to a BSE circular, "The IPO committee of the board of directors of the company vide resolution on December 1, 2020, and the promoter selling shareholder in consultation with the.... book running lead managers orBRLMs have finalized...
SEBI Imposes Fine of Rs. 45 Lakh on Three Individuals for IPO Fund Diversion
Executive
Nov 23, 2020
Parul Singhal
(
Editor: Ekta Joshi
)
4 Shares
SEBI on Friday (20th November 2020) slapped Rs.45 lakh rupees in fine on three individuals for diverting proceeds from the Initial public offer of paramount print packaging Ltd (PPL) and making wrong disclosures. Individual fine of Rs 15 lakh each has also been imposed on Divyesh Ashwin Dharmesh Ashwin and Anuj Vipin as per the said order. According to the order, PPL as a company had mis-utilised Rs 35 crores and diverted Rs 34 crores to nine vendors. The three individuals provided wrong...
701 Views
Facebook Comments