A famous restaurant chain, Burger Singh, has issued a clarification dismissing claims that it has raised ₹47.15 crore in a fresh funding round. The company called the report factually incorrect and premature.
A famous restaurant chain, Burger Singh. Source: Burger Singh
The article cited an MGT-14 filing with the Ministry of Corporate Affairs (MCA) to suggest the completion of a fundraise. However, Burger Singh clarified that this filing merely indicates the company’s intent to offer shares to prospective investors and does not confirm that any transaction has taken place.
“What’s been interpreted as a celebratory financial five-wicket haul is, in reality, just a coin toss,” the company said. “It simply means: we’re open for business. It does not mean the house is sold, the money is in the bank, and we’re lighting cigars with ₹2000 notes.”
Using a cricket analogy, the company added, “This is like reporting that India had won the match right before Siraj took guard against Shoaib Bashir’s second-last ball of the 75th over. Sometimes the ball trickles back and knocks off the bails. And so do your hopes.”
Legally, the company emphasised, “an MGT-14 is a pre-offer document, not a receipt. It’s an invitation.”
CEO Kabir Jeet Singh took a jibe, saying, “If listing a share offer means we’ve raised the money, then by that logic, every bachelor on Shaadi.com is already married. And I suppose I’m also the Maharaja of Jaipur just because I looked at a palace on Google Maps last week.”
The company concluded by stating that they will announce the fundraising when it is real.
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