Restaurant Brands Asia jumps as its arm executes facility agreement with Axis Bank for term loan
Restaurant Brands Asia is currently trading at Rs. 117.45, up by 2.45 points or 2.13% from its previous closing of Rs. 115.00 on the BSE.
The scrip opened at Rs. 115.25 and has touched a high and low of Rs. 120.00 and Rs. 114.95 respectively. So far 244839 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 137.85 on 15-Sep-2023 and a 52 week low of Rs. 83.71 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 120.00 and Rs. 114.05 respectively. The current market cap of the company is Rs. 5828.40 crore.
The promoters holding in the company stood at 15.43%, while Institutions and Non-Institutions held 52.12% and 32.44% respectively.
Restaurant Brands Asia’s subsidiary -- PT Sari Burger Indonesia has executed the facility agreement with Axis Bank, IBU, Gift City on December 6, 2023 for availing secured term loan facility of an amount not exceeding in the aggregate of $17.54 million.
The aforesaid term loan facility is secured by unconditional and irrevocable Standby Letter of Credit (SBLC) in the name of Axis Bank, IBU, Gift City from Axis Bank of an amount not exceeding in the aggregate of Rs 150 crore equivalent to $18.07 million. The Company has accordingly provided security for issuance of the said SBLC from Axis Bank.
Restaurant Brands Asia operates as a restaurant. The company prepares and distributes ready to eat food products such as burgers, fries, and beverages. Burger King India serves customers in India.