Hunger Pangs Ltd, operator of the Burma Burma Restaurant and Tea Room chain, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The proposed IPO includes a fresh equity issue worth up to ₹150 crore and an offer for sale (OFS) of up to 2.79 crore shares by existing shareholders, according to the DRHP filed on Friday.
The OFS comprises shares offered by promoters Ankit Virendra Gupta and Chirag Narendra Chhajer, promoter group entity Bbigplas Poly Pvt Ltd, and investor shareholders Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund, and L V Angel Fund. Proceeds from the fresh issue will be used to expand the Burma Burma restaurant network 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 cities in India.
Hunger Pangs operates in the premium Pan-Asian casual dining segment, with its Burma Burma brand specializing in Burmese cuisine. The company’s restaurants are located in premium malls, high streets, and corporate parks. It reported a 46.56% increase in revenue from operations to ₹155.50 crore in fiscal year 2026 from ₹106.10 crore in fiscal year 2025, highlighting strong growth in the casual dining sector.
The company’s next regulatory step is SEBI’s review and approval of the DRHP, which will allow Hunger Pangs to proceed with its IPO. The fresh equity issue of up to ₹150 crore will support its expansion plans, aiming to increase its footprint beyond the current 22 restaurants across India.