March 16, 2020 / 11:06 AM / 20 days ago

Burger King India delays IPO after market turmoil: Bloomberg News

FILE PHOTO: Burger King logo is seen in a restaurant in a communist-era building in Warsaw, Poland October 2, 2017. REUTERS/Kacper Pempel

(Reuters) - Burger King India Ltd has put its planned initial public offering on hold after India’s equities markets tumbled on fears of a slowdown in global economy and the spread of coronavirus, Bloomberg news reported, citing people familiar with the matter.

The restaurant chain decided to postpone launching the share sales after talks with advisers, the report here said, adding the company could still proceed with the IPO, if market conditions improved.

Burger King India had planned to launch an IPO of around 10 billion Indian rupees ($134.61 million) later this month, according to IFR, Refinitiv’s capital markets news service, which cited people with knowledge of the transaction.

The company did not immediately respond to Reuters’ request for comment.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli

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