Mcdonald’s India raises funding of Rs 137.66 crore from its US parent

Mcdonald’s India Private Limited (MIPL) has secured Rs 137.66 crore from its parent company Mcdonald’s International Branch Holdings LLC, according to financial data accessed by business intelligence platform, Tofler.

The capital was raised against 137,664,000 shares with each share priced at Rs 10, the filings showed. The investment was approved on May 18, 2022.

At present Mcdonald’s has two business entities in India. It is to be noted that Connaught Plaza Restaurants Private Limited is the licensee of McDonald’s in North and East India while Hardcastle Restaurants Pvt Ltd (HRPL) is a McDonald’s franchisee with rights to own and operate McDonald’s restaurants in India’s West and South markets. HRPL has been a franchisee in the region since its inception in 1996. Westlife Development Limited focuses on setting up and operating quick service restaurants (QSR) in India through its subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL).

Read Also: Bigbasket gets Rs 350 crore from its holding company

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