Subway India operator EverBrands files DRHP to raise Rs 600 Cr via fresh issue

•EverBrands India filed a draft red herring prospectus with SEBI for an initial public offering (IPO) worth up to Rs 600 crore.

•The IPO will include a fresh issue of equity shares, with no offer for sale (OFS), and may include a pre-IPO placement of up to Rs 120 crore.

•Proceeds from the IPO will be used for debt repayment, capital expenditure, and general corporate purposes.

•EverBrands operates Subway in India through Culinary Brands India Pvt Ltd and has 1,008 Subway stores across India and Sri Lanka.