RESTAURANT Brands Asia said on Tuesday Inspira Global will invest up to 34.16 billion rupees ($375.06 million) for a controlling stake in the Burger King India operator, as private equity firm Everstone exits its stake. The deal comes as fast-food chains struggle to accelerate their sales in the world’s most populous country, where they face price-conscious consumers and stiff competition from cheaper local upstarts.RBA, which also operates Burger King and Popeyes in Indonesia, has posted a string of losses since it went public in 2020 in a blockbuster initial public offering.The company’s stock has also fallen sharply from a peak of 213.8 rupees it hit in the month of its debut. Ahead of the deal announcement on Tuesday, RBA’s shares closed 4.7 percent lower at 63.68 rupees, giving the company a valuation of $408.4 million.Inspira, an Indian business group which operates brands such as Chinese Wok, Big Bowl and The Momo Co, is paying 70 rupees per share in the deal, a premium of about 10 percent to Tuesday’s closing price, RBA said.

Restaurant Brands Asia said on Tuesday that Inspira Global will acquire a controlling stake in the Burger King India and Indonesia operator for around 4.60 billion rupees ($50.54 million).

Fast food chains in India have been grappling with the double whammy of stiff competition from local rivals and muted demand from urban consumers due to high living costs

The stock has seen a 28% rebound over the last three months after a prolonged downtrend, testing its 200-day EMA. The analyst believes a breakout above ₹87 could lead to upside targets of ₹110.

Burger King India introduces Korean Spicy Fest, a limited-time menu. It offers a fusion of heat and Korean flavours. The launch occurred nationwide on April 2nd. The brand supports the launch with a 360° campaign. This includes digital promotions and influencer partnerships. The menu features sesame, ginger, garlic, and red chilies.