Secondary Issues
QSR chain Burger King raises Rs.500-Cr in QIP from MIT, others
Massachusetts Institute of Technology (MIT) has invested INR 92 crore in the INR 500 crore Qualified Institutional Placement (QIP) of Restaurant Brands Asia (RBA), the Indian operator of Burger King . MIT is the single largest investor in the QIP of the quick service restaurant chain.SBI Multi Asset Allocation Fund, Arisaig Asia Fund, Mercer QIF Fund Plc and 238 Plan Associates LLC rounded off the five top investors among 23 entities joining the QIP which closed March 26.RBA will use the funds for opening new stores, reducing debt and for strengthening the balance sheet.
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