Everstone Capital is preparing to sell its entire 11.26% stake in Restaurant Brands Asia, the master franchisee for Burger King in India and Indonesia. The holding, valued at approximately $57 million, will be sold via its investment vehicle QSR Asia. The deal introduces a new strategic investor, the family office behind Ajanta Pharma, which could inject up to 8 billion rupees ($88 million).

This transaction exemplifies a broader trend of private equity firms rotating capital out of listed Indian consumer businesses. Strategic investors are increasingly stepping in to provide balance-sheet support for long-term expansion. Restaurant Brands Asia, with a market cap of roughly $437 million, recently signaled potential fundraising plans, setting the stage for this ownership shift.

The new investor may eventually seek a majority position as other shareholders exit. This move highlights the evolving capital structure of India's fast-food sector, where global franchising models require sustained investment for growth. The board's upcoming review of fundraising options will be closely watched by market participants for its impact on the company's strategic direction.