Everstone Capital is preparing to exit its investment in Restaurant Brands Asia, the master franchisee of Burger King in India and Indonesia, as part of a strategic transaction, according to sources cited by Reuters.

Everstone will sell its entire 11.26% stake through its investment vehicle QSR Asia. The holding is currently valued at about $57m, based on Refinitiv data. Restaurant Brands Asia has a market capitalisation of roughly $437m on the Mumbai exchange.

The deal will introduce a new strategic investor, identified as the family office of the founders of Ajanta Pharma. One source said the investor could inject up to 8bn rupees, or about $88m, into the company. The size of the stake has not been disclosed, but the investor may consider taking a majority position over time as other shareholders exit.

Restaurant Brands Asia recently told Indian stock exchanges that it planned to hold a board meeting to consider fundraising options, without providing further detail. Everstone and the company declined to comment.

The sale marks another example of private equity firms rotating capital out of listed consumer businesses in India, as strategic investors step in to support balance-sheet strengthening and long-term expansion.

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