Burma Burma operator Hunger Pangs files draft IPO papers with SEBI

The OFS would comprise of up to 60,00,000 equity shares each by promoters Ankit Virendra Gupta and Chirag Narendra Chhajer, and up to 42,00,000 shares by promoter group entity Bbigplas Poly Private Limited. Investor shareholders Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund and L V Angel Fund, along with other shareholders Nisarg Ajaykumar Vakharia, Shweta Sharma and Mehul Kirit Mehta, also intend to sell shares.

The net proceeds from the fresh issue will be used to set up new Burma Burma restaurants in India and for general corporate purposes.

Hunger Pangs operates in the premium Pan-Asian casual dining segment. As of July 31, 2026, it operated 22 restaurants, one delivery kitchen and three warehouses across nine cities in India. As of June 30, 2026, it had 21 restaurants with an aggregate seating capacity of 1,991 seats. Its average bill value stood at Rs 2,400 in FY26.

Revenue from operations increased 46.56 per cent to Rs 155.50 crore in FY26 from Rs 106.10 crore in FY25. Ebitda rose to Rs 25.68 crore from Rs 21.35 crore, while the Ebitda margin stood at 16.51 per cent in FY26.

The company plans to expand its restaurant footprint across India, develop new brands and cuisines, continue menu innovation and strengthen customer engagement. It is also looking to expand its delivery and direct-to-consumer offerings, including ready-to-eat and packaged food products. Delivery contributed 10.76 per cent of revenue from operations in FY26.

According to the F&S Report, India’s full-service dining market was valued at approximately Rs 1.52 lakh crore in FY26 and is projected to reach Rs 2.18 lakh crore by FY30, growing at a CAGR of approximately 9.4 per cent. Casual dining restaurants accounted for more than 95 per cent of the market in FY26.

Panthomath Capital Advisors Private Limited is the sole Book Running Lead Manager to the issue.