Everstone Capital plans to sell its entire 11.26% stake in Burger King’s India and Indonesia operator Restaurant Brands Asia Ltd, underscoring the fast-food churn in the world’s most populous country.
A deal is likely to be announced on Tuesday, January 20, 2026, two people with direct knowledge of the matter told Reuters. Restaurant Brands Asia told stock exchanges last week that it planned to hold a board meeting on Tuesday to “consider and evaluate the fund raising.”
As part of the deal, Restaurant Brands Asia will get a new strategic investor – the family office of Ajanta Pharma Ltd, which operates restaurants such as Chinese Wok and Big Bowl under Lenexis Foodworks. Ajanta can inject even a family ₹Sources said that Rs 800 crore will be invested in Restaurants Brands Asia.
It was not immediately clear how much stake Ajanta Restaurant Brands would take in Aisa, but sources told Reuters it was considering taking a majority stake in due course as other shareholders sold out.
Everstone Capital’s stake through its investment vehicle QSR Asia Pte Ltd is valued at $57 million (~) ₹5,000 crore), according to Refinitiv data. Restaurant Brands Asia has a market capitalization of $437 million (~ ₹40,0000 crores).
Everstone and Restaurant Brands Asia did not comment for this story. The Ajanta Pharma family office did not respond to a request for comment.
Yum! deal
Everstone Capital is likely to exit Restaurant Brands Asia at a time when two of its larger peers are merging.
India’s KFC and Pizza Hut operators Sapphire Foods India Ltd. and Devyani International Ltd. are coming together in a $934 million deal, creating a fast-food powerhouse in the world’s most populous country.
The merger comes at a time when India’s so-called quick-service restaurants are struggling with higher costs and slower same-store sales and margin pressure.
Shares of Restaurant Brands Asia fell 1.81% on Monday. ₹66.72 per share on the BSE, while the benchmark Sensex ended the day 0.39% lower at 83,246.18 points. Ajanta Pharma fell 0.54% ₹2,666.00.
