Burger King India to file for Rs 1,000-crore IPO this week: Details here

The logo of Burger King is seen outside a shop in Vienna in Vienna, Austria, October 1, 2016. REUTERS/Leonhard Foeger/File Photo

International News
Burger King India, a major player in the domestic quick service restaurant (QSR) space, will file a document for an initial public offer (IPO) this week with the Securities and Exchange Board of India (Sebi), said people with direct knowledge of the development.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore, which will be used to fuel the burger chain’s expansion plan.
Assuming the regulatory approval process takes the usual time, Burger King India would list early next year, joining rivals Jubilant FoodWorks (operator of the Domino’s Pizza chain) and Westlife Development (master franchisee of McDonald’s in the western and southern markets) in going public. Typically, Sebi takes between four and six weeks to vet and clear an IPO document.Everstone owns and operates Burger King’s branded restaurants across India and Indonesia, as part of its food and beverage Asia portfolio. Everstone has invested in more than 30 portfolio companies in the consumer and consumer-led sectors across India and Southeast Asia.
Investment bankers said taking Burger King India public was part of Everstone’s strategy to liquidate its investment. In May, Everstone-backed non-banking financial company IndoStar Capital Finance had raised Rs 1,844 crore through an IPO. In 2017, the PE firm's education sector-focused publishing company S. Chand and Co got listed in a Rs 729-crore IPO. An email sent to Everstone seeking comment remained unanswered.

Edelweiss, Kotak Mahindra Capital, JM Financial, and CLSA are the investment bankers managing the Burger King IPO.Market players said Burger King India could command attractive valuations, given the investor preference for consumer-oriented brands. Also, the listed QSR players trade at lofty price-to-earnings multiples. Jubilant Foodworks now trades at 51 times its estimated one-year forward earnings....READ MORE

The meatless Whopper is here: Burger King just went vegan

Company News

For decades, fast-food giant Burger King has been the undisputed Home of the Whopper -- the chain's signature sandwich featuring one of its flame-grilled, "no nonsense" 100 per cent beef patties.
So, what happens when the Whopper doesn't actually have any meat? BK is going vegan.

That's right, folks: enter the Impossible Whopper, a meatless version of "America's favorite burger."
Made up of mostly soy and potato protein, and featuring coconut oil, sunflower oil and heme -- an iron-rich protein that simulates the texture, color and taste of actual meat.

For years, Burger King has offered a veggie burger on the menu at its thousands of restaurants, but it was not marketed as anything even remotely resembling a juicy, tender slab of meat.

So far, the Impossible Whopper is only available at several dozen restaurants in the Midwestern city of St Louis.

But Burger King's chief marketing officer Fernando Machado told The New York Times that the company expects to quickly expand availability nationwide if all goes well.

"I have high expectations that it's going to be big business, not just a niche product," Machado told the paper.


 Burger King's tie-up with start-up Impossible Foods is the latest, perhaps boldest move by a power player in an industry seeking to make inroads with customers on plant-based diets...Read More