Anand Rathi: Burger King IPO - Investment Rationale
Signage is seen illuminated at night outside of a Burger King do Brasil restaurant on Paulista Avenue in Sao Paulo, Brazil. (Photographer: Victor Moriyama/Bloomberg)

Anand Rathi: Burger King IPO - Investment Rationale


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Anand Rathi Report

Burger King is one of the fastest growing international quick service restaurant chains in India during the first five years of its operations based on number of restaurants.

Since opening its first restaurant in November 2014, the company has expanded meaningfully over the years on the back its well defined restaurant roll out and development process.

As of November 25, 2020, the company had 259 company-owned Burger King restaurants and nine sub franchised Burger King restaurants, of which 249 were operational.

As part of the franchisee agreement, the company is obligated to develop and open at least 700 restaurants by December 2026, signaling further growth prospects.

Click on the attachment to read the full report:

Anand Rathi Burger King India IPO Note.pdf


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