Restaurant Chain Burma Burma Files for IPO to Fund Expansion

Hunger Pangs Limited, the operator of the Burma Burma restaurant chain, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India. The filing outlines plans for a fresh share issue of up to 150 crore INR alongside an offer for sale (OFS) of existing equity.

The capital raised is earmarked for a strategic expansion, with plans to launch 27 company-owned outlets across India’s Tier I and Tier II cities by the end of fiscal year 2029. Founded in 2014, the chain currently operates 22 locations focused on vegetarian Burmese cuisine. Despite a revenue increase of 46.6 percent to 155.5 crore INR in FY26, the company reported a net loss of 15.4 crore INR for the period.

The company’s shareholding remains concentrated, with the top eight investors holding over 83 percent of the equity. Founders Ankit Gupta and Chirag Chhajer plan to divest a portion of their holdings as part of the public offering process while remaining in their roles as joint managing directors.