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Burma Burma Parent Files DRHP For IPO With ₹150 Cr Fresh Issue

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Burma Burma Parent Files DRHP For IPO With ₹150 Cr Fresh Issue

Hunger Pangs, the parent of restaurant chain Burma Burma, has filed its DRHP for an IPO comprising a fresh issue of up to ₹150 Cr and an offer for sale (OFS) of up to 2.8 Cr shares.

Cofounders and promoters Ankit Gupta and Chirag Chhajer will offload up to 60 Lakh shares each through the OFS. Other selling shareholders include Bbigplas Poly, Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund, and an LV Angel Fund scheme.

Burma Burma plans to use ₹117.29 Cr from its fresh issue to open 27 company-owned restaurants over FY28 and FY29, expanding in existing markets and entering new Tier I and Tier II cities. The company expects to open 12 outlets in FY28 and 15 in FY29, with the funds covering civil and interior work, kitchen equipment and other setup costs.

While no IPO-funded restaurant is expected to begin operations in FY27, the company has earmarked ₹10 Cr that year for advance payments towards fit-outs and other preparatory expenses. It plans to deploy ₹54.63 Cr in FY28 and ₹52.66 Cr in FY29.

Burma Burma has identified locations for five outlets in Bengaluru, Surat, Jaipur, Kolkata and Delhi, and signed letters of intent for the sites. Locations for the remaining restaurants are yet to be finalised. The remaining net proceeds will be used for general corporate purposes, capped at 25% of the gross proceeds.

The development comes months after Burma Burma raised ₹38 Cr at a valuation of ₹500 Cr, to expand its footprint into new cities.


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