Burma Burma operator Hunger Pangs files IPO papers with SEBI

Hunger Pangs Ltd, which operates the Burma Burma Restaurant & Tea Room chain, has filed preliminary papers with markets regulator SEBI for an initial public offering (IPO). The company aims to expand its restaurant network across India.

The proposed IPO comprises a fresh issue of equity shares worth up to ₹150 crore and an offer for sale (OFS) of up to 2.79 crore shares by existing shareholders, according to the draft red herring prospectus (DRHP) filed on Friday, 16 October 2026. The OFS includes shares offered by promoters Ankit Virendra Gupta and Chirag Narendra Chhajer, promoter group entity Bbigplas Poly Pvt Ltd, and investor shareholders including Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund and L V Angel Fund.

Proceeds from the fresh issue will be used to set up new Burma Burma restaurants across India and for general corporate purposes. As of July 31, 2026, the company operated 22 restaurants, one delivery kitchen and three warehouses across nine cities. The company reported a 46.56% increase in revenue from operations to ₹155.50 crore in FY26 from ₹106.10 crore in FY25. Panthomath Capital Advisors is the sole book-running lead manager to the issue.