CONNECT WITH US
eCommerce

eCommerce

Burma Burma DRHP: A Look At Shareholding Pattern & Key Executives

Inc42 - Consumer Services logo

Published on

Add as a preferred source on Google
Burma Burma DRHP: A Look At Shareholding Pattern & Key Executives

Last week, Hunger Pangs Limited, the parent company of restaurant chain Burma Burma, filed its DRHP with SEBI, proposing a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.79 Cr shares.

Hunger Pangs has 110 shareholders, including its promoters and public shareholders. Cofounders Ankit Gupta and Chirag Chhajer each hold a 33.35% stake in the company and plan to offload up to 60 Lakh shares each.

Negen Capital, through its Negen Undiscovered Value Fund and Negen Tech Opportunities Angel Fund, holds about 10% stake in the company. The investment firm first invested in Hunger Pangs in November 2022 and doubled down in 2023.

Hunger Pangs’ shareholding remains concentrated, with its top eight shareholders collectively holding 83.19% of the company on a fully diluted basis.

Among the other shareholders, rubber and plastic manufacturing company Bbigplas Poly Private Limited holds a 2.72% stake, while Venture Catalysts owns 1.88%. Individual investors, including Sagun Capital founder Saket Agarwal and Nazara backer Nisarg Ajaykumar Vakharia, each hold about 1% stake in Hunger Pangs.

Meanwhile, the fresh issue will help Burma Burma expand its restaurant network, with plans to open 27 company-owned outlets in new Tier I and Tier II cities. The company expects to open 12 outlets in FY28 and another 15 in FY29. The funds will cover civil and interior work, kitchen equipment and other setup costs.

To note, Burma Burma opened its first restaurant in Mumbai in 2014 and specialises in vegetarian Burmese cuisine.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.