Subway is one of the leading brands in the food industry. It is especially popular among customers who prefer to consume lower-calorie, fresh alternatives compared to oily fast food. The operator of Subway India restaurants, EverBrands India Limited, has filed draft papers with Securities and Exchange Board of India (SEBI). It plans to raise Rs. 600 cr through initial public offering (IPO). The EverBrands IPO will be an entirely fresh issue of equity shares, as per the Draft Red Herring Prospectus filed by the company on 28 September 2026.
From the proceeds, EverBrands plans to use Rs. 125 crore for repaying or pre-paying borrowings of its wholly owned subsidiary Culinary Brands India. The proceeds’ Rs. 326.85 crore will be used by the company to fund the establishment of new Subway stores under the company-owned, company-operated model.
The remaining proceeds will be used by the company for general corporate purposes. Motilal Oswal Investment Advisors, ICICI Securities, and Nuvama Wealth Management are the book-running lead managers for the offering.
Here’s a quick overview of the EverBrands India Ltd IPO details that we know so far:
|
Particulars of Subway IPO (EverBrands India Ltd.) |
Details |
|
Company Name |
EverBrands India Limited |
|
IPO Size |
Rs. 600 crore, as per DRHP filed with SEBI. |
|
Issue Type |
Fresh Issue |
|
Offer for Sale (OFS) |
N/A |
|
DRHP Filing Date |
28 September 2026 |
|
Brand Operated |
Subway India, Lavazza, Dilmah, etc. |
|
Industry |
Food & QSR (Quick Service Restaurant) |
|
IPO Proceeds for Debt Repayment/Pre-payment |
Rs. 125 crore |
|
IPO Proceeds for New Subway Stores |
Rs. 326.85 crore |
|
Remaining IPO Proceeds |
Will be used for general corporate purposes. |
|
Book-running Lead Managers |
Motilal Oswal Investment Advisors, ICICI Securities and Nuvama Wealth Management |
EverBrands India Limited, previously known as Culinary Brands Private Limited, is a leading multibrand food and beverages company. It was incorporated in 2017, and its headquarters are in New Delhi. It operates brands like Subway, Dilmah and Lavazza in India. It also runs its own Fresh & Honest brand.
The master franchisee rights of Subway restaurants across India, Bangladesh and Sri Lanka are with EverBrands India. According to information available on 31 March 2026, the company has a total of 1,008 Subway stores in India. Out of these, 678 stores are company-owned, company-operated stores. The remaining 330 stores are franchise-owned, franchise-operated outlets. In addition to this, the company has a total of 8 franchise-owned, franchise-operated stores in Sri Lanka.
In FY26, the company’s revenue from operations of the quick-service restaurant (QSR) vertical rose to Rs. 693.09 crore. In FY25 and FY24, the revenue from the QSR vertical was Rs. 480.38 crore and Rs. 355.31 crore, respectively. The beverages vertical of the company reported revenue from operations of Rs. 240.57 crore in FY26. In FY25 and FY24, the revenue from this vertical was Rs. 206.36 crore and Rs. 172.16 crore, respectively.
Q1. What is Subway IPO launch date?
A. The launch date for the IPO of EverBrands India, Subway India’s operator, has not been announced yet. Although the company has recently filed DRHP with the market regulator, the IPO launch date is not yet confirmed.
Q2. Who are the book-running lead managers for the EverBrands IPO?
A. For EverBrands IPO, the book-running lead managers are Motilal Oswal Investment Advisors, ICICI Securities and Nuvama Wealth Management.
Q3. Which company owns the master franchisee rights of Subway restaurants across India, Bangladesh and Sri Lanka?
A. EverBrands India owns the master franchisee rights of Subway restaurants across India, Bangladesh and Sri Lanka.
Q4. When did EverBrands file Draft Red Herring Prospectus with SEBI?
A. EverBrands filed the Draft Red Herring Prospectus with SEBI on 28 September 2026.
Source: Business Line
No comments yet.
Want to know More ?
Choose the type of company that you want to register to kick start your business.
Choose the type of license to operate your preferred telecommunication facility .
Choose the type of license for an effortless embarkment on your insurance business.
Choose suitable legal metrological certificate for your product and trade you are dealing in.
Choose the kind of IPR services to protect your intellectual property from theft and plagiarism.
Choose the type of license that you want to register for your technology driven finance company.
Choose the type of compliance to safeguard your business from non-adherence to laws which increases risks of penalties, fines and lawsuits.
Choose the type of certification to ensure customers of your high-quality products and services.
Transform your Business.
