India, Oct. 17 -- Hunger Pangs, the parent of restaurant chain Burma Burma, has filed its DRHP for an IPO comprising a fresh issue of up to Rs.150 Cr and an offer for sale (OFS) of up to 2.8 Cr shares.

Cofounders and promoters Ankit Gupta and Chirag Chhajer will offload up to 60 Lakh shares each through the OFS. Other selling shareholders include Bbigplas Poly, Negen Tech Opportunities Angel Fund, Venture Catalysts Angel Growth Fund, and an LV Angel Fund scheme.

The company has earmarked Rs.117.3 Cr from the fresh issue proceeds to set up 27 company-owned and operated Burma Burma restaurants. The remaining net proceeds will be used for general corporate purposes.

Of these proposed outlets, 12 are scheduled to open in FY28 and 15 in FY2...