EverBrands India, the company that operates Subway restaurants in India, Sri Lanka, and Bangladesh, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹600 crore through an initial public offering (IPO). This IPO will help the company expand its operations and strengthen its financial position.
- EverBrands India plans to raise ₹600 crore via an IPO.
- The IPO is a fresh issuance of equity shares.
- ₹125 crore will be used to repay borrowings of its subsidiary.
- ₹326.85 crore will fund new Subway stores under the COCO format.
- The company operates over 1,000 Subway stores across India.
- Revenue from the quick service restaurant segment increased significantly over recent years.
What is EverBrands India and what brands does it operate?
EverBrands India Ltd, formerly known as Culinary Brands Pvt Ltd, is a multi-brand food and beverages platform. It operates several popular brands, including Subway, Lavazza, Dilmah, and its own brand called Fresh & Honest. The company holds the master franchisee rights for Subway restaurants in India, Sri Lanka, and Bangladesh.
How many Subway stores does EverBrands India operate?
As of March 31, 2026, EverBrands India operated 1,008 Subway stores in India. These include 678 company-owned-company-operated (COCO) stores and 33 franchise-owned-franchise-operated (FOFO) outlets. The company plans to expand this network further using the funds raised from the IPO.
What is the purpose of the ₹600 crore IPO?
The IPO is a fresh issuance of equity shares, meaning the company is issuing new shares to raise funds. EverBrands India plans to use ₹125 crore of the proceeds to repay or pre-pay borrowings of its wholly-owned subsidiary, Culinary Brands India. Additionally, ₹326.85 crore will be used to set up new Subway stores under the COCO format. The remaining funds will be used for general corporate purposes.
How has EverBrands India's revenue performed recently?
The company has seen strong growth in revenue from its quick service restaurant (QSR) segment. Revenue from this vertical rose to ₹693.09 crore in the fiscal year 2026, up from ₹480.38 crore in 2025 and ₹355.31 crore in 2024. Its beverages vertical also showed growth, with revenue increasing to ₹240.57 crore in 2026 from ₹206.36 crore in 2025 and ₹172.16 crore in 2024.
Who are managing the IPO?
The IPO is being managed by Motilal Oswal Investment Advisors, ICICI Securities, and Nuvama Wealth Management. These firms are acting as the book-running lead managers for the issue.
Frequently Asked Questions
Q: What is the total amount EverBrands India aims to raise through the IPO?
A: The company plans to raise ₹600 crore through the IPO.
Q: What will the funds from the IPO be used for?
A: Funds will be used to repay borrowings of its subsidiary, expand Subway stores under the COCO format, and for general corporate purposes.
Q: How many Subway stores does EverBrands India currently operate?
A: As of March 31, 2026, the company operates 1,008 Subway stores in India.
Q: Which companies are managing the IPO?
A: Motilal Oswal Investment Advisors, ICICI Securities, and Nuvama Wealth Management are managing the IPO.
