Burger King’s India unit looks to raise $56.58m in IPO

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