Hunger Pangs IPO (DRHP filed)
Hunger Pangs Limited filed its draft red herring prospectus with SEBI on 16 Oct 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 16 Oct 2026
- Days since
- 2
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Hunger Pangs IPO status
Hunger Pangs Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 16 Oct 2026 |
|---|---|
| Days since filing | 2 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not Less Than 75% of the Net Issue |
| Non-Institutional | Not More Than 15% of the Net Issue |
| Retail Investors | Not More Than 10% of the Net Issue |
Hunger Pangs Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹106.56 Cr to ₹156.96 Cr, and profit after tax fell from -₹0.5 Cr to -₹15.37 Cr. The PAT margin for 31 Mar 2026 was -9.79%.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 158.36 | 161.90 | 110.61 | 67.13 |
| Total Income | 54.35 | 156.96 | 106.56 | 72.18 |
| Profit After Tax | 1.09 | -15.37 | -0.50 | -5.69 |
| EBITDA | 11.43 | 25.68 | 21.35 | 9.86 |
| Net Worth | 64.92 | 64.06 | 42.90 | 1.90 |
| Total Borrowings | 0.13 | 0.01 | 0.08 | 12.29 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| ROE % | 0.00 | -287.22 | -1.18 | -24.00 |
| ROCE % | 0.00 | -25.28 | 3.80 | -29.81 |
| RoNW % | 1.67 | -24.00 | -1.18 | -287.22 |
| Pat Margin % | 2.00 | -9.79 | -0.47 | -7.88 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Hunger Pangs Limited | 2 | — | -1.41 | -1.41 | -24.00% | 5.86 |
| United Foodbrands Limited | 5 | — | -15.13 | -15.13 | -19.95% | 82.20 |
| Devyani International Limited | 1 | — | -0.31 | -0.31 | -2.26% | 15.29 |
| Sapphire Foods Limited | 2 | — | -0.99 | -0.99 | -2.30% | 43.21 |
| Restaurants Brands Asia Limited | 10 | — | -3.19 | -3.19 | 29.64% | 11.81 |
| Westlife Food World Limited | 10 | 130.29 | 4.52 | 4.52 | 5.22% | 39.70 |
Notes
Source:
i. All the financial information for the Company mentioned above is based on the Restated Financial Information for the year ended March 31, 2026;
ii. All the financial information for listed industry peer is on a consolidated basis and is sourced from the financial information of such listed industry peer available on the website of the stock exchanges, as of and
for year ended March 31, 2026.
Notes:
i. P/E Ratio has been computed based on the closing market price of equity shares on October 14, 2026, divided by the Dilutive EPS of Fiscal 2026.
ii. RoNW is computed as net profit after tax (excluding profit attributable to non-controlling interest) divided by net worth.
iii. NAV is computed as the closing net worth (excluding NCI) divided by the closing outstanding number of equity shares.
iv. N.A. since dilutive EPS of peers is negative.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expenditure towards setting up of New Burma Burma Restaurants by our Company, in India | 117.29 |
| 2 | General corporate purposes | 0.00 |
| Total | 117.29 |
About Hunger Pangs Limited
Hunger Pangs Limited was incorporated in 2013 and owns and operates “Burma Burma Restaurant & Tea Room” (Burma Burma), which is described in its DRHP as India’s largest specialty Burmese casual dining restaurant chain. The company operates in the premium Pan-Asian casual dining segment, offering full-service dining experiences inspired by the culinary heritage, culture and traditions of Burma.
The company’s restaurants focus on vegetarian Burmese cuisine, combining food with cultural storytelling, distinctive restaurant interiors and experiential dining. Its menu development is supported by culinary research and experimentation, while standardized recipes, operating procedures, centralized procurement and structured employee training are used to maintain consistency across restaurants.
As of July 31, 2026, Hunger Pangs operated 22 restaurants, one delivery kitchen and three warehouses across nine cities in India. Its restaurants are located across premium malls, high streets and corporate parks. As of June 30, 2026, it had 21 restaurants with an aggregate seating capacity of 1,991 seats. The average bill value was approximately ₹2,400 in FY2026.
In addition to dine-in operations, the company operates a delivery business, which contributed 10.76% of revenue from operations in FY2026. It also operates the “Burma Burma Shop” platform and intends to expand its direct-to-consumer offerings, including ready-to-eat and other packaged food products.
The company plans to expand its restaurant network across India, introduce new brands and cuisines, continue menu and culinary innovation, and strengthen customer engagement. The proposed IPO's fresh-issue proceeds are also intended partly for setting up new Burma Burma restaurants in India.
As of June 30, 2026, the company had a workforce of 1,715 employees, comprising 1,574 full-time employees and 141 contractual/third-party staff.
Promoters
Ankit Virendra Gupta
Chirag Narendra Chhajer
Contact details
Hunger Pangs Limited
Unit No. 3 SW, 3rd Floor, The Ruby, 29,
Senapati Bapat Marg, Dadar West, Shivaji
Park (Mumbai), Mumbai 400 028,
Maharashtra, India
Phone: 91 22448 07704
Email: investorrelations@hungerpangs.com
Website: https://www.hungerpangs.com/
Hunger Pangs IPO FAQs
- Has Hunger Pangs IPO filed for an IPO?
- Hunger Pangs Limited filed its draft red herring prospectus (DRHP) with SEBI on 16 Oct 2026.
- When will the Hunger Pangs IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Hunger Pangs IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.