Bizz Buzz Bureau Hyderabad

HungerPangs Ltd, which operates the Burma Burma Restaurant & Tea Room chain, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth up to Rs 150 crore and an offer for sale (OFS) of up to 2.79 crore equity shares by promoters and existing shareholders.

The OFS includes up to 60 lakh shares each by promoters Ankit Virendra Gupta and Chirag Narendra Chhajer, along with shares held by Bbigplas Poly Pvt Ltd, Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund and other shareholders. The company plans to utilise the net proceeds from the fresh issue to establish new Burma Burma restaurants across India and for general corporate purposes.

As of July 31, 2026, Hunger Pangs operated 22 restaurants, one delivery kitchen and three warehouses across nine Indian cities. Its restaurants are located in premium malls, high-street locations and corporate parks. The company’s revenue from operations rose 46.56 per cent to Rs 155.50 crore in FY26 from Rs 106.10 crore in FY25. EBITDA increased to Rs 25.68 crore from Rs 21.35 crore, while its EBITDA margin stood at 16.51 per cent in FY26.

The restaurant chain reported an average bill value of Rs 2,400 in FY26, while its delivery business contributed 10.76 per cent of revenue.

Hunger Pangs plans to expand its restaurant network, introduce new brands and cuisines, and strengthen its delivery and direct-to-consumer offerings, including packaged food products.