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Burger King India Puts IPO on Hold After Market Turmoil

  • Burger King India is planning to raise $54 million from IPO
  • India’s stocks tumbled in global rout amid virus concerns
Men sit in front of an advertisement for a menu item outside a Burger King restaurant in Mumbai.

Men sit in front of an advertisement for a menu item outside a Burger King restaurant in Mumbai.

Photographer: Dhiraj Singh/Bloomberg
Updated on

Burger King India Ltd., owned by private equity fund Everstone Capital, is putting its planned initial public offering on hold after the country’s equities market tumbled on fears of a global economic slowdown and the spread of novel coronavirus, people familiar with the matter said.

The company decided to postpone launching the share sale after discussions with its advisers, said the people, who asked not to be identified as the information is private. The retailer initially planned to start the IPO before the end of this month, with a target to raise about 4 billion rupees ($54 million), according to a preliminary prospectus.