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Inspira Global to acquire controlling stake in restaurant brands Asia at Rs 70 per share
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Thursday, 22 January, 2026, 15 : 00 PM [IST]
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Our Bureau, Mumbai
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Restaurant Brands Asia Ltd. (RBA), the operator of Burger King in India and Burger King and Popeyes in Indonesia, has announced that Inspira Global, promoted by Aayush Madhusudan Agrawal, will acquire a controlling stake in the company, subject to regulatory and shareholder approvals. The acquisition price has been fixed at Rs 70 per share, representing an approximate 10 per cent premium to RBA’s closing market price.
The transaction marks the complete exit of existing promoter QSR Asia Pte. Ltd., which is majority-owned by Everstone Capital, in line with its planned investment lifecycle. Inspira Global will execute the acquisition through its food and beverage arm, Lenexis Foodworks Private Limited, which brings over a decade of experience in the QSR space and currently owns and operates more than 250 Chinese Wok restaurants across 45+ cities in India.
Under the proposed deal structure, Inspira Global will acquire QSR Asia Pte. Ltd.’s entire 11.26 per cent stake in RBA for approximately Rs 460 crore. In addition, Inspira Global plans to infuse around Rs 900 crore through a preferential allotment of equity shares and about Rs 600 crore via preferential allotment of warrants. These transactions will trigger a mandatory open offer to public shareholders in accordance with SEBI Takeover Regulations. The deal remains subject to customary conditions, including approvals from shareholders and regulators such as the Competition Commission of India.
Commenting on the development, Rajeev Varman, Whole-time Director and Group CEO, Restaurant Brands Asia, said the company is pleased to welcome Inspira Global as its new promoter. He added that RBA will continue to operate with its existing leadership team, operational structure, and brand identity intact, while remaining focused on its growth plans.
Aayush Madhusudan Agrawal, representing Inspira Global, described the acquisition as a long-term value creation opportunity, highlighting the group’s focus on sustainable growth, operational excellence, and disciplined capital deployment in the high-growth QSR segment.
Rafael Odorizzi, President Asia-Pacific, Restaurant Brands International, said the global brand owner looks forward to partnering with Inspira Global to build on RBA’s strong operational foundation. Everstone Group Co-Founder and CEO Sameer Sain noted that Burger King India, now with over 575 outlets, is well positioned for its next phase of growth as ownership transitions to a new long-term promoter.
The transaction was advised by Bathiya Advisors, with Motilal Oswal Investment Advisors Limited acting as manager to the open offer.
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