Punjab Grill operator Lite Bite Foods plans IPO in next 12 months: Report
Chairman Amit Burman said the company can either raise funds by public listing or by raising private equity.
December 11, 2017 / 02:32 PM IST
Restaurant firm Lite Bite Foods, which runs eateries like Punjab Grill and Zambar, is planning to list on the exchanges within a year.
"We can probably go public in the next year. We've reached those numbers," Chairman Amit Burman told The Economic Times. He further said that they currently have two options two raise funds — one is listing and the other is raising private equity.
Burman is optimistic on the future with impacts of highway ban, demonetisation and the Goods & Services Tax (GST) coming to rest. While in countries in Hong Kong and Singapore, people eat out about 28 times a month, in India, the number is hardly 3 or 4.
He expects this to change in coming time.
The company's revenue rose 30-32 percent over last year. Lite Bite has also recognised certain growth areas including small store at airports, offie premises and schools. The company will continue to maintain its airport brands like Zambar and Asia Seven.
For airports, the company works on franchise model and has set up stores for Burger King and KFC.
"For institutions, we sweat our commissaries. We're doing close to 9,000 meals a day and expanding the model. The number of customers is guaranteed. It's like the airport business where sales could fluctuate at most a daily 5 percent higher or lower," Burman told ET