New Delhi, Oct. 22 -- Burger King India Ltd., one of the fastest growing quick service restaurant chains in the country filed its draft prospectus for an initial public offering (IPO) with markets regulator, Securities and Exchange Board of India.

The IPO, a combination of fresh issue and offer for sale, looks to raise Rs.542 crore as fresh capital while its promoter-QSR Asia Pte Ltd will partially exit via an offer for sale of 6 crore equity shares.

The firm plans to use net proceeds from the fresh capital to roll out new restaurants in the country. It plans to have about 700 restaurants, including sub-franchised outlets by December 31, 2026, which has recently been extended by one year from December 31, 2025 due to the COVID-19 crisis...