March 22, 2021 2:09:03 pm
Barbeque Nation IPO: The Rs 453 crore initial public offering (IPO) of Barbeque-Nation Hospitality, a popular Indian cuisine casual dining restaurant chain, will open on Wednesday, March 24, 2021, and will be available for subscription till Friday, March 26, 2021. The price band of the IPO has been fixed at Rs 498-500 per share of the face value of Rs 5 each.
Barbeque-Nation Hospitality is a casual dining chain company that is backed by private equity investor CX Partners and ace investor Rakesh Jhunjhunwala’s firm Alchemy Capital. It is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. The company also operates Toscano restaurants and UBQ by Barbeque Nation Restaurant.
Jubilant FoodWorks, which owns the franchise of Domino’s Pizza and Dunkin’ Donuts in the country, too has a nearly 11 per cent stake in the company.
The Barbeque Nation IPO comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale (OFS) of 54,57,470 equity shares. Further, the OFS comprises selling of 10,18,288 shares by Sayaji Housekeeping Services (SHKSL), 3,39,430 shares by Azhar Dhanani, 3,39,430 shares by Sadiya Dhanani, 3,39,430 shares by Sanya Dhanani, 33,23,106 shares by Tamara Private Limited (TPL), 71,186 shares by AAJV Investment Trust (AAJVIT) and 26,600 shares by Menu Private Limited (MPL), the data given on the red herring prospectus available on the National Stock Exchange (NSE) showed.
Barbeque Nation Hospitality had filed preliminary papers in February last year, received Sebi’s approval in July 2020 to float the IPO.
The company has already raised Rs 150 crore through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.
Investors who wish to subscribe to Barbeque Nation’s IPO can bid in the lot of 30 equity shares and multiples thereof. At the upper price band, they will have to shell out Rs 15,000 to get a single lot of Barbeque Nation. The shares will be listed on both BSE and NSE.
The net proceeds from the issue will be utilised to fund the company’s capital expenditure for expansion and opening of new restaurants, prepayment or repayment of certain borrowings and for general corporate purposes.
Axis Capital, IIFL Securities, Ambit Capital and SBI Capital Markets are the book running lead managers to the IPO while Link Intime India is the registrar of the issue.
As of December 31, 2020, Barbeque-Nation Hospitality owns and operates 147 Barbeque Nation Restaurants (including opened, temporarily closed and under construction outlets) across 77 cities and six International Barbeque Nation Restaurants in three countries. Separately, it operates eleven Italian Restaurants in three cities in India.
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