July 26, 2021

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CAM, Indus, Ashurst chomp on whopping $110m Burger King India IPO

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The quick service restaurant chain’s IPO performance almost matched state-run Mazagon Dock Shipbuilders’ share sale in October which was subscribed more than 157.41 times. Burger King’s ₹810 crore IPO received bids of 11.67 billion shares, against the 74.49 million on offer, showed data received till 5pm on Friday, the final day of bidding.

Mint

The Company also raised INR 1,500 million through a rights issue and a private placement, as a part of its pre-IPO placement before the filing of its red herring prospectus.

IndusLaw advised the book running lead managers, including Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, JM Financial Limited. The team included partners Manan Lahoty and Manshoor Nazki, senior associate Priyadarshini Rao, associates Anjali Menon, Rashika Narain and Ritika Banerjee.

Cyril Amarchand Mangaldas acted as Indian legal counsel to Burger King India, led by partners Yash Ashar, Gokul Rajan and Devaki Mankad, senior associates Meesha Varshney and Shiv Bhargava, and associates Amitpal Singh and Rutvik Shukla.

Cyril Amarchand Mangaldas also acted as counsel to the promoter selling shareholder, QSR Asia Pte Ltd, led by partner Abhinav Kumar, senior associate Roshni Bhalla and associate Surbhi Purohit.

Ashurst acted as international legal counsel to the book running lead managers, led by partner Stuart Rubin, counsel Ethan Perry and associate Jarvis Yau.

2020-12-01

Deal value: INR 8,100 million

This deal report is based on a firm’s press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click here if you are working with a law firm that has not been credited for this deal, and we will update the report promptly.

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