Burma Burma Plans IPO by 2027; Targets Rs 300 Crore Revenue

Mumbai-based restaurant chain Burma Burma is planning to go public with an IPO by 2027, shared co-founders Ankit Gupta and Chirag Chhajer.

Known for its vegetarian Burmese delicacies and offerings, the group is aiming to triple its footprint before going public, and also penetrate deeper into cities like Delhi, Bengaluru and expand to locations such as Chennai, Chandigarh and Jaipur.

“We plan to take our company public in 2027, between April and December 2027,” shared Chhajer who is also aiming at taking the revenue to Rs 300 crore by then. “We are already at a run rate of about Rs 120 crore and we will end the year at a run rate of about Rs 150 crore,” he added.

Last month Burma Burma (Hunger Pangs Pvt Ltd) raised $2 million in equity investment and is looking to raise another $3 million. The round is expected to see participation from existing investors Negen Capital and family offices.

Also Read: [Funding Alert] Burma Burma Restaurant and Tea Room Bags $2 Mn to Triple Its Restaurant Count

Founded in 2014 by Ankit Gupta and Chirag Chhajer, Burma Burma specializes in Burmese cuisine. The chain currently operates 13 restaurants and delivery kitchens in key cities including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad. 

The restaurant chain has doubled its footprint over the past year. 

“From last year’s 0.7% EBITDA, this year, we would close anywhere between 12-15% EBITDA. Rs 300 crore revenues with a 20% EBITDA is the level we intend to reach before we go public,” he added.