Hunger Pangs, the operator of the Burma Burma restaurant chain, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO will include a fresh issuance of equity shares valued at ₹150 crore and an offer for sale (OFS) of 27,929,760 shares by existing shareholders.
- Hunger Pangs operates in the premium Pan-Asian casual dining segment, specializing in Burmese cuisine under the Burma Burma brand.
- The company runs 22 restaurants, one delivery kitchen, and three warehouses across nine Indian cities as of July 31, 2026.
- The IPO proceeds will fund new restaurant openings and general corporate purposes.
- Revenue increased by 46.56% to ₹155.50 crore in fiscal year 2026.
- Delivery services contributed over 10% of total revenue in FY26.
What is Hunger Pangs and its business focus?
Hunger Pangs operates in the premium Pan-Asian casual dining segment with its Burma Burma brand, which specializes in authentic Burmese cuisine. The company has established a presence in premium malls, high streets, and corporate parks across nine cities in India.
How many outlets does Hunger Pangs currently operate?
As of July 31, 2026, Hunger Pangs manages 22 restaurants, one delivery kitchen, and three warehouses. This network supports its dine-in and delivery services, catering to a growing customer base.
What are the details of the IPO?
The IPO consists of a fresh issuance of equity shares worth ₹150 crore and an offer for sale of 27,929,760 shares by existing shareholders. Promoters and investors participating in the OFS include Ankit Virendra Gupta, Chirag Narendra Chhajer, Bbigplas Poly Pvt Ltd, and several angel funds and individual investors.
How will Hunger Pangs use the funds raised from the IPO?
The company plans to use the funds to open new Burma Burma restaurants and for general corporate purposes. Additionally, the listing will create a public market for the company’s equity shares, offering liquidity to shareholders.
What has been Hunger Pangs’ recent financial performance?
In fiscal year 2026, Hunger Pangs reported revenue from operations of ₹155.50 crore, a 46.56% increase from ₹106.10 crore in FY25. EBITDA rose to ₹25.68 crore from ₹21.35 crore during the same period, indicating improved profitability.
What are Hunger Pangs’ future growth plans?
The company aims to expand its restaurant network, explore new brands and cuisines, and strengthen its delivery and direct-to-consumer businesses. Its delivery segment contributed 10.76% of revenue in FY26, showing potential for further growth.
Does Hunger Pangs have other business platforms?
Yes, Hunger Pangs operates the Burma Burma Shop platform, which offers ready-to-eat and packaged food products. The company plans to expand this platform to diversify its offerings beyond restaurants.
Who are the managers and where will the shares be listed?
Panthomath Capital Advisors is the sole book-running lead manager for the IPO, and MUFG Intime India is the registrar. The company’s shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
