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Last Updated : Mar 24, 2020 04:24 PM IST | Source: Moneycontrol.com

Coronavirus impact | Everstone Capital may sell 5% stake in Burger King India: Report

The planned stake sale comes ahead of Burger King India's planned Rs 1,000 crore IPO, which has been delayed due to the coronavirus outbreak.


Everstone Capital is in advanced discussions to sell a 4-5 percent stake in Burger King India, The Economic Times reported.

The planned stake sale comes ahead of Burger King India's planned Rs 1,000 crore initial public offering (IPO), which has been delayed due to the novel coronavirus, or COVID-19, outbreak.

Singapore-based Everstone Capital has the exclusive rights to operate Burger King-branded stores in India.

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Moneycontrol could not independently verify the report.

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"Burger King India evinced strong response to its growth story and positioning during the recent IPO roadshows, including requests for pre-IPO and anchor investments. Despite the current situation, there continues to be strong interest. Any sale prior to IPO would be a pre-IPO sale and not a PE stake sale," the article quotes a a spokesperson as saying.

An Everstone spokesperson said there has been strong investor interest in Burger King India, but did not specifically mention this transaction. Any stake sale before the listing will be a pre-IPO sale and not a private equity stake sale, the spokesperson added.

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First Published on Mar 24, 2020 04:24 pm
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