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Subway restaurants operator EverBrands India files papers for ₹600 cr IPO
EverBrands India Ltd, which operates Subway restaurants, has filed draft papers with markets regulator Sebi to raise Rs 600 crore through an initial public offering. The IPO is entirely a fresh issue of equity shares, according to the Draft Red Herring Prospectus (DRHP) filed on Monday. Of the proceeds, the company plans to use Rs 125 crore of the proceeds to repay or pre-pay borrowings of its wholly-owned subsidiary Culinary Brands India and Rs 326.85 crore to fund the setting up of new Subway…
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