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Restaurant Brands Asia jumps over 4% in early trade; here’s why

08 December 20233 mins read by Angel One
The company’s subsidiary, PT Sari Burger Indonesia has executed the facility agreement with Axis Bank for availing secured term loan facility for the the aggregate of USD 17.54 million.
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At 10 am, Restaurant Brands Asia shares were trading at Rs 120, up by 4.35% from its previous closing of Rs 115 on the BSE.

Facility agreement with Axis Bank 

Restaurant Brands Asia’s subsidiary, PT Sari Burger Indonesia executed the facility agreement with Axis Bank, IBU, Gift City on December 6, 2023, for availing secured term loan facility of an amount not exceeding the aggregate of USD 17.54 million.

The aforesaid term loan facility is secured by unconditional and irrevocable Standby Letter of Credit (SBLC) in the name of Axis Bank, IBU, Gift City from Axis Bank of an amount not exceeding in the aggregate of Rs 150 crore equivalent to USD 18.07 million. The Company has accordingly provided security for issuance of the said SBLC from Axis Bank.

Stock price movement 

The scrip opened at Rs 115.25 and touched a high and low of Rs 120 and Rs 114.95, respectively. The BSE group ‘A’ stock of face value of Rs 10 has a 52-week high and low of Rs 137.85 and Rs 83.71, respectively. Last one week high and low of the scrip stood at Rs 120 and Rs 114.05, respectively. The current market cap of the company is Rs 5,846.79 crore.

The promoters holding in the company stood at 15.43%, while Institutions and Non-Institutions held 52.12% and 32.44%, respectively.

Company profile 

Incorporated in 2013, Restaurant Brands Asia operates as a quick service restaurant (QSR). The company prepares and distributes ready-to-eat food products such as burgers, fries, and beverages. Burger King India serves customers in India. At present, it is one of the fastest growing international QSR brands in India reaching 200 restaurants during the first five years of operations. In 2022, the company changed its name from Burger King India Ltd to Restaurant Brands Asia Ltd.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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