The fast food burger brand said its board approved raising upto Rs 1,500 crore through further issuance of securities.
The board of Burger King India approved raising upto Rs 1,500 crore through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes (in one or more tranches).The board also approved the change of the name of the Company from "Burger King India Limited" to "Restaurant Brands Asia Limited".
Burger King India reported net loss of Rs 20.23 crore in Q2 September 2021 as against net loss of Rs 38.50 crore in Q2 September 2020. Net sales rose 153.75% to Rs 245.40 crore in Q2 September 2021 over Q2 September 2020.
Burger King India set shop in India in November 2014 and has been among the fastest expanding quick service restaurant chains in the country. It is promoted by QSR Asia. The company is the national master franchisee of Burger King in India, with exclusive right and license to develop, establish, operate and franchise Burger King restaurants in India.
Shares of Burger King India fell 0.19% at Rs 155.80 on the BSE.
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