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New Delhi, Nov 27 () Private equity and real estate investor Everstone Group on Wednesday announced appointment of Alok Oberoi as executive chairman.
 Oberoi, who has been a shareholder of Everstone and has served as a director as well as an active member of its various investment committees, will take up the new role effective January 1, 2020, the company said in a statement.
 In his new role as executive chairman, Oberoi will work closely with Everstone Group co-founder and CEO Sameer Sain, and drive the group's overall strategy and governance, it added.
 He will continue to serve on the investment committees and in order to fulfil his new role and responsibilities, he will also relocate to Singapore, the company said.
 Commenting on the appointment, Sain said Oberoi is transitioning from a non-executive to a full-time executive and leadership role.
 Oberoi worked for over 14 years at Goldman Sachs, where he was named as a general partner in 1996, and led the company's wealth management business in Asia and subsequently also ran it internationally.
 He was also the co-founder and chairman of ACPI, a multi-family office and wealth management business based in London, which he has since exited.
 Everstone is an investment group focused on India and South East Asia, with assets in excess of USD 5 billion across private equity, real estate, green infrastructure and venture capital. RKL RVK

Everstone Group appoints Alok Oberoi as executive chairman

Till now the fastest and maybe the best burgers were only available at McDonald’s in India. However, the game just changed in the Indian fast food arena with the first <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> outlet opened at Select City Walk mall in New Delhi. 
 Many like me were waiting for the fast food source known for its delicious burgers, fries and more. The news had been doing rounds since quite a few years that the fast food giant will set up shop here in India. But, nothing came through. Some sources said another fast food giant was blocking them from entering India. Finally last year Burger King tied up with <keyword id="1644575" type="UNKNOWN" weightage="20" keywordseo="Everstone-Group">Everstone Group</keyword> and on Sunday they opened their first outlet in New Delhi. 
 
Fast Food lovers in Delhi qued up in huge numbers to get a taste of the legendary American fast food sensation on its first day. Burger King is poised to open 11-12 more outlets throughout India in the next 60-90 days. To start with Burger King is serving Chicken, Mutton and Vegetarian Burgers only as Beef is banned in most parts of the country. 
 
In America Burger King has been <a href="http://www.businessinsider.in/3-Reasons-Burger-King-Is-Beating-McDonalds/articleshow/45063239.cms">beating McDonanld’s</a>. Burger King has huge potential to be the biggest fast food burger chain in India just like they are in <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword>. And here is why. 
 
India is a growing market Our country is growing by leaps and bounds. The population is large enough that half a dozen more eateries like Burger King can easily survive and co-exist in India. People in India love food and they will not stop eating out. We Spoke to Rajan Mass, a MBA student from Pune, he said many from his family including him have visited Burger King restaurant when they go abroad. There are many in our circles who visit Burger King first than any other food joint, when in USA or <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword>. 
 
Neerraj Yadav, HR Consultant in Bangalore said people love fast food, he gets numerous resumes in which people have shown their love for food or cooking. We see no reason for Burger King to not to do well in India. Fast Food joints are going to smaller cities too as the demand there is increasing. 
 
Increases Competition McDonanld’s held a nice position till now. They were the unchallenged burger and fries leader with little competition from <keyword id="6376241" type="CITY" weightage="20" keywordseo="KFC">KFC</keyword>. With Burger King stepping on to the Indian Turf, we might see better service and food from each of the outlets. People will now have a choice and will go to the preferred fast food joint. 
 
Price will play a very important role here. Metro’s might have slightly higher price than tier 2 and 3 towns as spending power is slightly high. Discounts, offers and deals will go live and each of them will try to lure the customer with something new. 
 
Creates Jobs 
With every new multi-national coming to the country the jobs circuits come alive. Burger King will infuse a lot of capital into India that will help the food and beverage sector. Along with the in house jobs at Burger King, there will be more opportunities created in the supporting or the allied fields, such as oil, packaging materials and more. 
 Burger king will open some new avenues in the country and is looking at quickly expanding its reach. Consumers should be ready for some good international favourite veg and non-veg delicacies, but we are looking forward to what new offers will they bring to the table to win the customers who at the moment are loyal to <keyword id="14775" type="CITY" weightage="20" keywordseo="McDonalds">McDonalds</keyword> or KFC.

Why Opening Of Burger King In India Is Such a Big Thing?

The Quick Service Restaurants or QSRs are undergoing ‘the struggle for existence’ in the Indian market. Blame it on the buying psyche or cut-throat competition, the chains are jostling against each other to win customer’s preferences. Going an extra mile to woo its customer, <keyword id="6377922" type="CITY" weightage="20" keywordseo="Starbucks">Starbucks</keyword>, world’s largest coffee chain managed by the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata group</keyword> in India has started offering big discounts to attract more customers. As per a news report by The Economic Times, anyone buying before 4 pm will get a voucher for 40% off the bill when she next visits a Starbucks in Mumbai, Chennai, Delhi NCR, Pune, Hyderabad or <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> after 6 pm. An additional 10% discount is being offered to those who have a Starbucks loyalty card. 
 
“We are constantly trying to innovate and create interesting offers for our customers," marketing and category director Manmeet Vohra told the Economic Times. "This 'treat receipt' is a concept that has been conceptualised from this thought." Starbucks is not the only cafe chain that's discounting to win customers. 
 
Experts told the financial daily, this is happening because of competing claims for the consumer wallet, not just in terms of brands but the rapidly increasing adoption of eCommerce. It's not just coffee shops that are offering discounts to drum up business-the quick service restaurant or QSR segment is pushing hard on promotions. 
 
Domino's has a 'buy one, get one free' offer on pizzas every Friday, while Pizza Hut has a similar one for Wednesdays. McDonald's offers cash back of up to Rs 50, which customers can avail of on mobile recharge site Freecharge. 
 "The QSR and cafe industry is getting into a circular firing-squad formation, trying to kill each other to grab market share, as if this is the only way to grow in an early-stage growth market," Jaspal Singh Sabharwal, partner at Everstone Capital, local master franchisee for <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> told the ET. 
 
He attributed this to a variety of factors such as sluggish demand, massive pressure to expand and the emergence of the millennials, also known as Gen Y and referring broadly to those born in the 1980-2000 periods or thereabouts. 
 
Rivals cafe chains also offer discounts but these have typically been restricted to either one day a week, specific menu items or are in the range of 20-30%. Costa Coffee ran a limited Happy Hours promotion two years ago to boost custom during non-peak hours (after 8 pm). 
 
 
Sabharwal of Everstone said patience would pay good dividends. "Most global brands are backed by strong balance sheets and usually have a longer term view of the Indian market but this time it is different - they are all in a hurry. Mom and pop restaurants and responsible QSR Chains would suffer in the beginning but the future belongs to them as they prepared to build communities of customers around them. It is already happening in the developed world and India won't be an exception," he said. 
 
(Image: Reuters)

​It’s raining ‘Happy Hours’ across QSR chains

Mumbai, Jan 31 () Private equity and real estate investor Everstone Group on Friday said it has entered into an agreement whereby Brookfield Business Partners, together with its institutional partners, will be investing Rs 1,450 crore in IndoStar Capital Finance.
 Through this investment, Brookfield will acquire 40 per cent stake in the non-banking finance company.
 The overall investment will comprise a combination of primary investment in equity shares and compulsorily convertible preference shares of Rs 1,225 crore along with a secondary purchase of shares from IndoStar Capital Mauritius, a company statement said.
 "We are delighted to partner with a reputable global investor such as Brookfield and welcome them to the IndoStar family. We see opportunities to continue delivering substantial value to IndoStar's customers, employees and investors," IndoStar Chairman Dhanpal Jhaveri said. He is also the Vice Chairman of Everstone India
 The fresh investment by Brookfield will support the growth of IndoStar's retail business.
 "We look forward to partnering with Everstone and the IndoStar management team to further scale the business," Brookfield's Senior Vice President Aditya Joshi said.
 The investment remains subject to receipt of regulatory approvals.
 IndoStar Capital Mauritius continues to be the promoter and an active shareholder in IndoStar Capital Finance, which it built from the ground up since 2011.
 IndoStar has assets under management of Rs 10,600 crore and offers a wide range of loans to nearly 60,000 customers. HV ABM
ABM

Brookfield to pick up 40 pc stake in IndoStar Capital for Rs 1,450 cr

New Delhi, Jul 3 () The demand for warehousing and industrial spaces will be adversely affected this year due to the COVID-19 pandemic, but the sector has bright prospects in the medium-to-long term driving on the growth of the e-commerce sector, according to experts. The government should prepare a national policy for industrialisation and ease land acquisition process to make India a manufacturing base and attract companies that want to shift operation out of China, they said at a webinar on the warehousing sector. Niranjan Hiranandani, co-founder and managing director of Hiranandani Group, said there are huge development potential in the warehousing, industrial parks and data centre projects. About making India a manufacturing hub, he said, "Intention is there. Hopefully action will be there." Hiranandani, who is also president of Assocham and Naredco, said a lot of policy measures are needed to push manufacturing activities in India. He even suggested that the government should send a team to Vietnam for studying how it has been able to attract companies for setting up factories. The webinar 'Bridging the Middle- transforming warehousing Industry in India' was organised by Knight Frank and Reed Exhibitions India. Rajesh Jaggi, vice-chairman (real estate) of Everstone Group, said this year could be a complete "washout" for the warehousing sector due to challenges posed by the coronavirus pandemic in both demand and supply sides. Jaggi is managing partner of Everstone-backed IndoSpace, which is into the warehousing and industrial space segment. "I am not at all bullish for the short-term perspective," he said, but added that medium-to-long-term growth prospects remained intact for both industrial space and warehousing. Post-COVID-19, Jaggi said there would be a thrust on e-commerce. "If India plays it right, we have a huge scope on industrialisation," he said. Jaggi advocated a pan-India manufacturing policy and a consolidated effort from both the central and state governments. "If we do not have a national policy on industrialisation, we are going to miss this opportunity," he said. Jaggi said the company would continue to invest in this sector and has not changed the expansion plan. To boost the manufacturing sector in India, All Cargo Logistics Chairman Shashi Kiran Shetty suggested that the government should revive special economic zones (SEZs) where both factories and warehousing can co-exist. He said the government's industrial development authorities and Railways have huge land bank that could be utilised for development purpose. "We need to move fast, else will miss a golden opportunity," Shetty said. Shishir Baijal, chairman and managing director of Knight Frank India, said the warehousing segment has been least impacted and will also recover quickly compared to other asset classes in the real estate space. On Thursday, Knight Frank India reported that the warehousing demand fell 11 per cent during the last fiscal year at 41.3 million sq ft across eight major cities due to economic slowdown. MJH HRS

Warehousing, industrial space demand to be hit this year due to COVID-19: Experts

<ul><li><keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> has set the price band at ₹59-60 per share for its IPO opening on December 2.</li><li>Investors can bid for a minimum of 250 equity shares and thereafter in multiples of 250 equity shares. </li><li>The company is looking to raise ₹810 crore through this IPO, net proceeds would be utilised to roll out of new company-owned Burger King Restaurants and for general corporate purposes. </li></ul>The competitor of McDonald’s, Burger King, is all set to float its ₹810 crore initial public offering (IPO) on December 2. The Private equity firm, Everstone Group promoted company has set the price band at ₹59-60 per share for its IPO. Investors can bid for a minimum of 250 equity shares and thereafter in multiples of 250 equity shares — which also means that a retail investor can apply for maximum up to 3,250 equity shares at a higher price band. The promoter entity QSR Asia will offload 6 crore shares, aggregating to ₹360 crore at the upper price band. The Indian subsidiary of US-based Burger King is looking to raise ₹810 crore through the IPO, comprising a fresh issue of shares amounting to ₹450 crore. Net proceeds from the fresh issue of shares would be utilised to roll out of new company-owned Burger King Restaurants and for general corporate purposes. The company has reserved 10% of its offering for retail investors, up to 15% for non-institutional investors and nearly 75% for qualified institutional investors. The company’s shares are proposed to be listed on both stock-exchanges — the BSE and the NSE. The company said the issue would close on December 4 and allotment of shares will be done on December 9. The stock will debut the bourses on December 14. Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the book running lead managers to the public issue. The Burger King brand is the second-largest fast-food burger brand globally as measured by the total number of restaurants. As per the <a href="https://cdn1.edelweissfin.com/wp-content/uploads/2020/11/Burger-King-Limited-Red-Herring-Prospectus.pdf">Red Herring Prospectus</a>, the company had 261 restaurants including eight sub-franchised Burger King Restaurants across 17 states and union territories and 57 cities in India as of September 2020. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-top-electric-cars-price-from-delhi-mumbai-chennai-bengaluru-kolkata/articleshow/79429631.cms" data-type="tilCustomLink">From Tata Nexon EV and MG ZS EV to Hyundai Kona Electric — here’s how much top electric cars cost in India</a> <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms" data-type="tilCustomLink">AstraZeneca will likely retest its COVID-19 vaccine, CEO says after admitting an error in the first trial that may have skewed results</a>

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Everstone Group appoints Alok Oberoi as executive chairman

PTI

Why Opening Of Burger King In India Is Such a Big Thing?

Sulabh Puri

It’s raining ‘Happy Hours’ across QSR chains

BI India Bureau

Brookfield to pick up 40 pc stake in IndoStar Capital for Rs 1,450 cr

PTI

Warehousing, industrial space demand to be hit this year due to COVID-19: Experts

PTI

Burger King India is all set to float its ₹810 crore IPO next week — Here are the details

Navdeep Yadav

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You Searched For "Everstone Group" and got 6 results

Everstone Group appoints Alok Oberoi as executive chairman

PTI

Why Opening Of Burger King In India Is Such a Big Thing?

Sulabh Puri

​It’s raining ‘Happy Hours’ across QSR chains

BI India Bureau

Brookfield to pick up 40 pc stake in IndoStar Capital for Rs 1,450 cr

PTI

Warehousing, industrial space demand to be hit this year due to COVID-19: Experts

PTI

Burger King India is all set to float its ₹810 crore IPO next week — Here are the details

Navdeep Yadav

Popular Keywords

Buying Guides

It’s raining ‘Happy Hours’ across QSR chains