Restaurant Brands Asia jumps on acquiring franchise, development rights of POPEYES Restaurants in Indonesia

Restaurant Brands Asia is currently trading at Rs. 119.95, up by 4.40 points or 3.81% from its previous closing of Rs. 115.55 on the BSE.

The scrip opened at Rs. 118.10 and has touched a high and low of Rs. 120.55 and Rs. 116.65 respectively. So far 156310 shares were traded on the counter.

Restaurant Brands
Restaurant Brands

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 189.95 on 02-Aug-2021 and a 52 week low of Rs. 86.60 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 120.55 and Rs. 113.75 respectively. The current market cap of the company is Rs. 5902.13 crore.

The promoters holding in the company stood at 40.91%, while Institutions and Non-Institutions held 35.98% and 23.11% respectively.

Restaurant Brands Asia through its step down subsidiary company — PT Sari Chicken Indonesia, has acquired exclusive master franchise and development rights in Indonesia to develop, establish, own, operate, and to grant franchises, of POPEYES Restaurants. Cost of acquisition is Indonesian rupiah (IDR) 75,07,00,00,000 comprising of 75,070 equity shares each having a nominal value of Indonesian rupiah 10,00,000.

Restaurant Brands Asia operates as a restaurant. The company prepares and distributes ready to eat food products such as burgers, fries, and beverages. Burger King India serves customers in India.

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