EverBrands India Ltd, which operates Subway restaurants, has filed draft papers with markets regulator Sebi to raise Rs 600 crore through an initial public offering.
The IPO is entirely a fresh issue of equity shares, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.
Of the proceeds, the company plans to use Rs 125 crore of the proceeds to repay or pre-pay borrowings of its wholly-owned subsidiary Culinary Brands India and Rs 326.85 crore to fund the setting up of new Subway stores under the company-owned-company-operated (COCO) format.
Also, the remaining proceeds will be utilised for general corporate purposes.
EverBrands India, formerly known as Culinary Brands Pvt Ltd, is a multi-brand food and beverages platform comprising Subway, Lavazza, Dilmah and its own Fresh & Honest brand.
In the quick service restaurant (QSR) segment, the company holds master franchisee rights for Subway restaurants across India, Sri Lanka and Bangladesh.
As of March 31, 2026, ..
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