Archive · 29 Sep 2026
EverBrands Files DRHP With SEBI for Subway India IPO
EverBrands is a company that runs Subway restaurants in several South Asian countries.
It has asked SEBI for permission to launch an IPO, which means it may sell shares to the public.
As of March 31, 2026, it had 1,008 Subway stores in India and eight in Sri Lanka.
Its Subway business earned Rs 693.09 crore during FY26.
EverBrands also sells and distributes coffee and tea through Lavazza, Dilmah and Fresh & Honest.
It had 9,455 coffee machines installed by March 31, 2026.
The beverages business earned Rs 240.57 crore in FY26.
The company operates in a food-services market that is expected to grow by FY30.
EverBrands has filed a draft red herring prospectus with SEBI to launch its IPO.
The company holds exclusive master franchise rights for Subway restaurants across India, Sri Lanka and Bangladesh.
EverBrands operated 1,008 Subway stores in India and eight franchise stores in Sri Lanka as of March 31, 2026.
QSR revenue rose to Rs 693.09 crore in FY26 from Rs 480.38 crore in FY25.
Its beverages division, featuring Lavazza, Dilmah and Fresh & Honest, generated Rs 240.57 crore in FY26.
- Who
- EverBrands, the master franchisee for Subway in India, Sri Lanka and Bangladesh.
- What
- Filed a draft red herring prospectus with SEBI to launch an IPO.
- When
- The filing date is not specified; the cited operating figures are as of March 31, 2026.
- Where
- The business operates across India, Sri Lanka and Bangladesh, with the filing made to SEBI in India.
- Why
- To pursue a public share offering through an IPO.
- Subway presence
- 1,008 stores in India and eight franchise-owned, franchise-operated stores in Sri Lanka as of March 31, 2026.
- India store mix
- 678 company-owned, company-operated stores and 330 franchise-owned, franchise-operated stores.
- QSR revenue
- Rs 693.09 crore in FY26, compared with Rs 480.38 crore in FY25 and Rs 355.31 crore in FY24.
- Beverages revenue
- Rs 240.57 crore in FY26, up from Rs 206.36 crore in FY25 and Rs 172.16 crore in FY24.
- Coffee machines
- The installed base reached 9,455 machines as of March 31, 2026.
- Market outlook
- India's food-services market was estimated at Rs 5,613 billion in FY25 and projected to reach Rs 9,088 billion by FY30.
- Lead managers
- Motilal Oswal Investment Advisors, ICICI Securities and Nuvama Wealth Management.