Barbeque Nation IPO Launch On This Date; Each Share To Be Priced Around Rs 500
On March 24, Barbeque Nation Hospitality, the parent company of the casual dining restaurant chain Barbeque Nation Restaurants, will begin accepting subscriptions for its initial public offering (IPO). The public issue’s price band has been set at Rs 498-500 per share. The initial public offering (IPO) will begin accepting subscriptions on March 24 and end on March 26.
Barbeque Nation, India’s Leading Casual Dining Restaurant Chains
The first Barbeque Nation restaurant opened in 2008, and the company now has 147 locations in 77 cities across India and six International Barbeque Nation Restaurants across three countries namely UAE, Oman, Malaysia.
By acquiring a stake in Red Apple Kitchen, which owns Toscano, a casual dining Italian restaurant chain with locations in Pune, Bengaluru, and Chennai, the chain has broadened its scope. The company has expanded its offerings by launching UBQ by Barbeque Country, which offers A-la-Carte meals to the value-conscious customer.
Shareholders To Sell Equity Shares In The Public Offering
Sayaji Housekeeping Services, Azhar Dhanani, Sadiya Dhanani, Sanya Dhanani, Tamara, Aajv Investment Trust, and Menu Private Limited are among the shareholders who have offered to sell 54.57 lakh equity shares in the public offering and the public issue comprises a fresh issue of Rs 180 crore.
The firm has set aside Rs 2 crore worth of shares for its workers. At the higher price band, investors can bid for a minimum of 30 equity shares and multiples of 30 equity shares, resulting in a minimum application size of Rs 15,000 per lot.
Registered institutional buyers will receive 75% of the overall book size, while retail investors will receive 10% and non-institutional investors will receive 15%.
According to the Barbeque Nation IPO- Second Addendum, the company raised Rs 149.97 crore through its pre-IPO placement, which included the sale of 59.51 lakh equity shares. A sum of Rs 84.8 crore was used to repay the Company’s loans, while Rs 35.1 crore was spent on general corporate purposes.
The BSE and the National Stock Exchange are proposing to list equity shares. The issue’s book running lead managers are IIFL Securities, Axis Finance, Ambit Capital, and SBI Capital Markets.