Restaurant Brands Asia informed that its board has approved raising of funds through issue of instruments or securities including equity shares or any other eligible securities by way of a qualified institutions placement (QIP) upto Rs 500 crore.
The proposal is subject to necessary approvals, including the approval of the members of the company and such other regulatory or statutory approvals as may be required.The board has authorised committee of board of directors for dealing with all matters pertaining to the proposed fund raise.
Restaurant Brands Asia is into the business of Quick Service Restaurants under the brand name of 'Burger King.'
The company reported consolidated net loss of Rs 65.45 crore in Q2 FY25 as compared with net loss of Rs 50.65 crore in Q2 FY24.Revenue from operations advanced 1.2% YoY to Rs 632.43 crore in Q2 FY25.
Shares of Restaurant Brands Asia slipped 2.47% to Rs 78.50 on the BSE.
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