ICICI Direct: Burger King IPO - Investment Rationale
Food app delivery workers wait outside a Burger King restaurant. (Photographer: Victor Moriyama/Bloomberg)

ICICI Direct: Burger King IPO - Investment Rationale


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Burger King India is a fast growing international quick service restaurant chain in India.

It started its operations in 2014 and within five years established 261 restaurants across major cities. The company has exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India as a master franchisee.

The company grew at a faster pace in the last five years by mainly leveraging the disruption at McDonalds franchise in North India.

The company has a well defined restaurant rollout plan to open 700 restaurants across geographies by 2026.

The proceeds from the IPO would be sufficient to open 190 new stores until 2023.

Click on the attachment to read the full report:

ICICI Direct Burger King IPO Review.pdf


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