Burma Burma plans IPO by 2027, aims for Rs 300 crore revenue before listing

Vegetarian Burmese restaurant chain Burma Burma is gearing up to go public by 2027, co-founders Chirag Chhajer and Ankit Gupta revealed to The Economic Times. The company, which currently operates 13 restaurants and delivery kitchens across major Indian cities, is also planning significant expansion before its initial public offering (IPO).

In a bid to strengthen its market position, Burma Burma, under its parent company Hunger Pangs Pvt Ltd, raised $2 million in equity last month and is seeking an additional $3 million. The next round of funding is expected to attract participation from existing investors, including Negen Capital and several family offices.

"We plan to take our company public in 2027 and are looking at going public between April and December 2027. We intend to reach around Rs 300 crore in revenues by then. We are already at a run rate of about Rs 120 crore and we will end the year at a run rate of about Rs 150 crore," said Chirag Chhajer.

"In the next two to three years, we intend to double from where we are today," he added.

Chhajer further highlighted the company’s financial growth, stating, "Last year, we closed the first six months at Rs 29.5 crore, and this year, we've already reached Rs 53 crore for the same period. We are projecting a strong Ebitda improvement, from last year’s 0.7 per cent to an estimated 12-15 per cent this year. Our goal is to achieve Rs 300 crore in revenues with a 20 per cent Ebitda before we go public."

Burma Burma is also eyeing international markets for expansion, with a focus on the United Arab Emirates (UAE) and the United Kingdom (UK). "We are definitely very bullish on international markets, particularly the UAE and London. We are exploring synergies across the border. But our focus remains India as a market. If we get a good opportunity along the way, then our first destination for expansion could be the UAE or UK," said co-founder Ankit Gupta.

The company currently has a presence in key Indian cities, including Delhi, Gurugram, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad, and aims to further expand its footprint within India while strategically evaluating overseas opportunities.