Hunger Pangs Ltd. IPO Details
Hunger Pangs was incorporated on October 9, 2013. The company is India’s largest specialty Burmese casual dining restaurant chain, offering an immersive dining experience inspired by Burmese culture and culinary traditions. It operates 22 restaurants across nine Indian cities and one delivery kitchen in Mumbai as of July 31, 2026
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 27.9 M | - | - | ₹1,500.0 M | DRHP DOC |
Hunger Pangs issue details
Hunger Pangs has 27.9 M shares on offer
Hunger Pangs IPO issue size is ₹ 1,500.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
Hunger Pangs IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Hunger Pangs NUMBER OF SHARES ON OFFER
Hunger Pangs FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY27 | 53.7 | 1.1 | 6.2 | 4.3 | 21.3% |
| FY26 | 155.5 | -15.4 | 35.3 | -0.4 | 16.5% |
| FY25 | 106.1 | -0.5 | 16.5 | 9.5 | 20.1% |
| FY24 | 71.9 | -5.7 | 17.0 | 1.1 | 13.7% |
Hunger Pangs INFORMATION ON IPO ISSUE
About Hunger Pangs
Hunger Pangs was incorporated on October 9, 2013. The company is India’s largest specialty Burmese casual dining restaurant chain, offering an immersive dining experience inspired by Burmese culture and culinary traditions. It operates 22 restaurants across nine Indian cities and one delivery kitchen in Mumbai as of July 31, 2026
Object of the Issue
- Expenditure towards setting up of new ‘Burma Burma’ restaurants by the company, in India (“New Burma Burma Restaurants”)
- General corporate purposes
Hunger Pangs - PROMOTERS
| Name |
|---|
| Ankit Virendra Gupta |
| Chirag Narendra Chhajer |
Hunger Pangs - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Shivakumar Dega | Chairman & Independent Director |
| Ankit Virendra Gupta | Joint Managing Director |
| Chirag Narendra Chhajer | Joint Managing Director |
| Kushal Budhia | Independent Director |
| Lavanya Nalli Ramanathan | Independent Director |
| Pavitra Joshi Singh | Independent Director |
Hunger Pangs Book Running Lead Manager
Pantomath Capital Advisors Private Limited
hunger.ipo@pantomathgroup.com
Hunger Pangs Registrar to the Offer
MUFG Intime India Private Limited
hunger.ipo@in.mpms.mufg.com
Hunger Pangs Strengths
Pan-India presence
The restaurant operates across nine cities in all four Indian zones, establishing a national presence from its early stages. Its restaurant network expanded from 12 outlets in FY25 to 21 in FY26, demonstrating its ability to scale across diverse urban markets while maintaining operational discipline
Operational control
The company operates all its restaurants under the Company-Owned, Company-Operated (COCO) model, ensuring consistent food quality, service standards and customer experience across locations. Its integrated technology systems, data-driven decision-making and experienced teams support operational efficiency, cost control and scalable growth while preserving brand identity
Brand recognition
The company has received recognition from leading publications and dining platforms, including Condé Nast Traveler, Zomato and Swiggy, for its cuisine and restaurant experience. Its popular food, beverages, tea, desserts and retail offerings contribute approximately 30% of revenue in their respective categories, supporting customer loyalty, repeat visits and business growth
Hunger Pangs Risks
Limited customer base
The company's all-vegetarian and no-alcohol offerings differentiate its brand but may limit its ability to attract customers who prefer non-vegetarian food, alcoholic beverages or diverse menus. Lower awareness of Burmese cuisine in new markets may also increase marketing costs and delay restaurant stabilisation, potentially affecting customer traffic, average bill values, revenue and profitability
Depend on skilled workforce
The company relies on skilled chefs, restaurant managers and other trained personnel to maintain consistent food quality, hygiene, service standards and restaurant operations. Any difficulty in attracting, training or retaining key employees may disrupt operations, affect customer experience and adversely impact its business and financial performance
Inventory managemenr risks
The company depends on the consistent sourcing, storage and quality control of specialty ingredients essential to Burmese cuisine across its restaurant network. Any supply disruptions, price fluctuations or failure to follow standard procedures may affect menu availability, food quality, authenticity, customer satisfaction, food costs and profitability
IPO FAQs
The promoters of the company are Ankit Virendra Gupta and Chirag Narendra Chhajer.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.