Mumbai: Restaurant Brands Asia Ltd. (RBA), the operator of Burger King® in India and Burger King® and Popeyes® in Indonesia, announced that Inspira Global, promoted by Aayush Madhusudan Agrawal, will acquire a controlling stake in the company. The transaction values RBA shares at ₹70 apiece, implying a ~10% premium to the previous closing price.
As part of the deal, existing promoter QSR Asia Pte. Ltd., majority-owned by Everstone Capital, will exit fully, in line with its planned investment lifecycle.
The acquisition will be executed through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage arm, which operates over 250 Chinese Wok outlets across 45+ Indian cities. Inspira Global will acquire QSR Asia’s entire 11.26% stake in RBA for about ₹460 crore and additionally infuse around ₹900 crore via preferential equity allotment and ₹600 crore through warrants. These steps will trigger a mandatory open offer to public shareholders under SEBI Takeover Regulations.
The transaction remains subject to shareholder and regulatory approvals, including clearance from the Competition Commission of India.
Commenting on the development, Rajeev Varman, Whole-time Director and Group CEO of RBA, said the new promoter brings long-term capital and strategic alignment, while the company will continue to operate with its existing leadership, structure and brand identity.
Aayush Madhusudan Agrawal said the acquisition is aimed at long-term value creation through sustainable growth and operational excellence, strengthening Inspira Global’s presence in the high-growth QSR segment.
Rafael Odorizzi, President Asia-Pacific at Restaurant Brands International, welcomed Inspira Global as a long-term partner, expressing confidence that the partnership will build on RBA’s strong operational base.
Motilal Oswal Investment Advisors is acting as manager to the open offer, while Bathiya Advisors advised on the transaction.
