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Lite Bite Foods plans IPO

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NEW DELHI: Lite Bite Foods, which runs popular restaurant like Punjab Grill, Baker Street and Street Foods, is considering to raise funds through an initial public offer (IPO).

The company is promoted by Dabur’s Vice Chairman Amit Burman and Rohit Aggarwal, and runs close to 140 restaurant outlets through its portfolio of over a dozen brands.

“We are toying with the idea ..may be next year we will be big enough to think of an IPO. We have met different bankers about how we should go ahead. We would rather go in for IPO than private equity. We are having discussions but nothing is decided yet. May be next year,” Lite Bite Foods Chairman Amit Burman told PTI.

“As of now, it is all internal accruals from promoter funds,” he added.

Lite Bite Foods has also bagged master concession right for development of eateries in 5-tier 2-tier airports in India.

The company plans to open close to 60 new outlets in India in the next financial year, mostly in these new airports, through a portfolio of its owned and franchised brands.

At present, the company opens outlets from the portfolio of 12 owned brands and 7 managed brands such as KFC, Burger King, Subway and Pizza Hut at airports and the company operates 58 outlets at airports in Mumbai, Delhi, Bengaluru, Pune, Jammu and Goa.

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