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

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 partnersManan Lahoty and Manshoor Nazki, senior associatePriyadarshini Rao, associatesAnjali Menon, Rashika Narain and Ritika Banerjee.

Cyril Amarchand Mangaldas acted as Indian legal counsel to Burger King India, led by partnersYash Ashar, Gokul Rajan and Devaki Mankad, senior associatesMeesha Varshney and Shiv Bhargava, and associatesAmitpal Singh and Rutvik Shukla.

Cyril Amarchand Mangaldas also acted as counsel to the promoter selling shareholder, QSR Asia Pte Ltd, led by partnerAbhinav Kumar, senior associateRoshni Bhalla and associateSurbhi Purohit.

Ashurst acted as international legal counsel to the book running lead managers, led by partnerStuart Rubin, counselEthan Perry and associateJarvis Yau.

2020-12-01

Deal value: INR 8,100 million

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