Hunger Pangs Limited Operator Of Burma Burma Restaurants Files Draft Red Herring Prospectus With SEBI

Hunger Pangs Limited, which owns and operates Burma Burma Restaurant and Tea Room as India’s largest specialty Burmese casual dining restaurant chain, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India. Operating in the premium pan Asian casual dining segment, the company offers a full-service dining proposition and an immersive experiential concept rooted in the culinary heritage, culture, and traditions of Burma. The proposed offer comprises a fresh issue of equity shares of face value two rupees each aggregating up to one thousand five hundred million rupees and an offer for sale of up to twenty-seven million nine hundred twenty-nine thousand seven hundred sixty equity shares by selling shareholders.

The offer for sale includes up to six million equity shares each by promoter selling shareholders Ankit Virendra Gupta and Chirag Narendra Chhajer, up to four million two hundred thousand equity shares by promoter group selling shareholder Bbigplas Poly Private Limited, up to six million four hundred sixty-eight thousand three hundred fifteen equity shares by Negen Tech Opportunities Angel Fund, up to two million seven hundred seventy-two thousand equity shares by Venture Catalysts Angel Growth Fund, up to five hundred twenty-five thousand three hundred fifteen equity shares by L V Angel Fund, and up to one million five hundred forty-eight thousand five hundred forty equity shares by Nisarg Ajaykumar Vakharia, two hundred fifty-eight thousand ninety equity shares by Shweta Sharma, and one hundred fifty-seven thousand five hundred equity shares by Mehul Kirit Mehta. The net proceeds from the fresh issue are proposed to be utilized towards setting up new Burma Burma restaurants in India and for general corporate purposes.

Hunger Pangs has built its positioning around Burmese cuisine, combining food with cultural storytelling, distinctive restaurant design, and experiential dining, supported by culinary research, experimentation, and a structured research and development process. As of July 31, 2026, the company operated twenty-two restaurants, one delivery kitchen, and three warehouses across nine cities in India within premium malls, high-street locations, and corporate parks. As of June 30, 2026, the company had twenty-one restaurants with an aggregate seating capacity of one thousand nine hundred ninety-one seats and an average bill value of two thousand four hundred rupees in fiscal 2026. On the financial front, revenue from operations increased by 46.56 percent from one thousand sixty point nine nine million rupees in fiscal 2025 to one thousand five hundred fifty-four point nine seven million rupees in fiscal 2026, while EBITDA increased from two hundred thirteen point five four million rupees to two hundred fifty-six point seven seven million rupees, with an EBITDA margin of 16.51 percent in fiscal 2026.

The company’s growth strategy focuses on expanding its restaurant footprint across India, developing new brands and cuisines, continuing culinary and menu innovation, and strengthening customer engagement through an evaluation of catchment quality, premium consumption potential, accessibility, and location economics. In addition to dine-in, the delivery business contributed 10.76 percent of revenue from operations in fiscal 2026 through the Burma Burma Shop platform, with ongoing plans to expand delivery and direct-to-consumer offerings including ready-to-eat and packaged food products. According to an industry report, India’s full-service dining market was valued at approximately 1.52 trillion rupees in fiscal 2026 and is projected to reach approximately 2.18 trillion rupees by fiscal 2030, representing a compound annual growth rate of approximately 9.4 percent, with casual dining restaurants constituting more than 95 percent of the market. Pantomath Capital Advisors Private Limited is the sole book running lead manager to the issue.