Hunger Pangs, which operates specialty casual dining restaurant chain Burma Burma Restaurant and Tea Room, has filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of up to 2.79 crore shares by existing shareholders.
Proceeds from the fresh issue will be used to establish new Burma Burma restaurants across India and for general corporate purposes. Panthomath Capital Advisors is the sole book-running lead manager to the issue.
Hunger Pangs operates Burma Burma, a Pan-Asian casual dining chain focused on Burmese cuisine. Its business combines dine-in restaurants with culinary research, menu development and standardised operating processes across its network.
