Restaurant chain Burma Burma’s parent files DRHP to raise Rs.150-Cr in fresh issue

Mumbai-based Hunger Pangs, the parent company of the restaurant chain Burma Burma , has filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO). The proposed transaction consists of a fresh issue of shares worth INR 150 crore and an offer for sale (OFS) of 2.8 crore shares.Co-founders and promoters Ankit Gupta and Chirag Chhajer are set to offload 60 lakh shares each, with additional participation from selling shareholders including Bbigplas Poly, Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund, and an LV Angel Fund scheme.Founded in 2013 by Ankit Gupta and Chirag Chhajer, the company operates in the premium casual dining segment, serving vegetarian Burmese cuisine. The company plans to utilize INR 117.29 crore from the fresh issue proceeds to establish 27 company-owned restaurants over fiscal years 2028 and 2029.Hunger Pangs reported operating revenue of INR 155.5 Cr in FY26, representing a 46.6% increase from INR 106.1 Cr in FY25. During the same period, the company’s net loss widened to INR 15.4 Cr from INR 50.5 lakh in the previous year.To date, the company has raised over USD 11 million from investors, including Negen Capital, Endurance Capital, and Coheron Wealth.