NEW DELHI: Quick service restaurant chain Burger King India has filed draft papers for its initial public offering (IPO). The company is looking to offload up to Rs 400 crore of new shares in the IPO.Edelweiss Financial Services, Kotak Mahindra Capital, JM Financial, and CLSA are the investment bankers managing the IPO.Shares of the company are proposed to be listed on BSE and NSE.The issue comprises fresh issue of shares aggregating Rs 400 crore and an offer for sale of up to 6 crore equity shares by QSR Asia PTE.With an average ticket value of Rs 500-550, the company had 202 outlets in 47 cities as of June 30.McDonald’s is the category leader in burger & sandwiches with close to 42 per cent market share in the category and the revenue of McDonald’s has grown at a CAGR of 19 per cent.The category has outpaced the growth of market leader due to entry of newer players such as Burger King, Wat-a-burger etc. In the Pizza category in the chain QSR segment, the growth is driven by Domino’s with a market share of approximately 80 per cent. Domino’s has outpaced the growth of category by filling in the void created by the exit of other pizza brands such as Papa John’s.