Burger King India Ltd board approves fund raising proposal of up to Rs. 1500 crore

The Board of Directors of Burger King India Limited ('the Board') at its meeting held today, i.e. on December 15, 2021 has, considered and approved the increase in Authorised Share Capital & Alteration of Memorandum of Association.

The board approved proposal of increasing the Authorised Share Capital of the Company from Rs. 505,00,00,000/- (Rupees Five Hundred and Five Crore only) divided into 50,50,00,000 (Fifty Crore Fifty Lakhs) equity shares of Rs. 10/- each (Rupees Ten Only) to Rs. 600,00,00,000/- (Rupees Six Hundred Crore Only) divided into 60,00,00,000 (Sixty Crore) equity shares of Rs. 10/- each (Rupees Ten Only), and consequently, the capital clause (Clause V) of the Memorandum of Association be altered, subject to the approval of the shareholders and other statutory / regulatory approvals, as applicable.

The board also approved raising of funds by way of further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes (in one or more tranches), for an aggregate amount not exceeding ₹ 1,500 Crore (Rupees One Thousand Five Hundred Crore), subject to applicable laws and necessary shareholder and statutory / regulatory approvals, as applicable.

Shares of Burger King India Limited was last trading in BSE at Rs. 156.10 as compared to the previous close of Rs. 158.15. The total number of shares traded during the day was 72785 in over 987 trades.

The stock hit an intraday high of Rs. 158.15 and intraday low of 154.90. The net turnover during the day was Rs. 11395832.00.

Source : Equity Bulls

Keywords

BurgerKingIndia INE07T201019 Restaurants FundRaising QIP FPO PreferentialIssue