Barbeque Nation IPO date, price: The IPO of Casual eating chain Barbeque Nation Hospitality will open for public subscription on Wednesday. The preliminary public provide includes recent problem of shares price Rs 180 crore and an offer-for-sale of as much as 54,57,470 fairness shares. Equity shares aggregating as much as Rs 2 crore have been reserved for eligible workers.
The firm has mounted a price band of Rs 498- 500 per share for its preliminary share-sale. The public problem will shut on March 26. At the higher finish of the price band, the IPO is predicted to fetch Rs 453 crore. A retail investor can apply for a minimal of 1 lot which includes 30 shares (30 shares X Rs 500 per share = Rs 15,000) and a most of 13 tons.
Ahead of the general public problem, the corporate raised Rs 203 crore from anchor buyers forward of its preliminary share-sale. The firm’s IPO committee has determined to allocate 40,57,861 shares at Rs 500 apiece to 21 anchor buyers. At this price, the corporate raised Rs 202.89 crore. The firm has already raised Rs 150 crore by means of a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.
The anchor buyers embrace Goldman Sachs India Ltd, Nomura Funds Ireland Public Limited Company, Fidelity Investment Trust, SBI Mutual Fund (MF), ICICI Prudential MF, Kotak MF, Aditya Birla Sunlife MF, HDFC MF, HDFC Life Insurance Company, Kuber India Fund, Pioneer Investment Fund and UPS Global Trust.
Barbeque Nation Hospitality is backed by personal fairness investor CX Partners and famend inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital.
Barbeque Nation GMP
No exercise was recorded within the gray market for Barbeque Nation shares. The foundation of allotment might be finalised on April 1 and refunds might be initiated on April 5. The shares might be credited within the demat accounts of buyers on April 6. The shares of Barbeque Nation might be listed on the NSE and BSE on April 7.
Proceeds of the recent problem might be utilised to fund the corporate’s capital expenditure for enlargement, moreover prepayment or reimbursement of sure borrowings and bills associated to common company functions.
The firm is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. It is backed by personal fairness agency CX Partners, which made its first funding in 2013 and once more in 2015.
The promoters maintain 60.24 per cent stake, CX Partners owns 33.79 per cent and Jhunjhunwala’s funding agency Alchemy Capital holds 2.05 per cent within the firm. The whole working income of the corporate in FY20 was Rs 850.8 crore and the CAGR from FY17 to FY20 was at 19.5 per cent.
Barbeque Nation Hospitality, which filed preliminary papers in February final yr, acquired Sebi’s approval in July 2020 to drift the IPO. The problem is being managed by IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets.
Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants. It additionally operates Toscano eating places and UBQ by Barbeque Nation Restaurant.
As of December 2020, Barbeque Nation Hospitality operated 147 retailers throughout India and six retailers throughout three nations — UAE, Oman and Malaysia.
Earlier in 2017, the corporate had filed IPO papers with Sebi searching for to lift Rs 700 crore. However, the regulator saved the processing of the corporate’s proposed IPO in abeyance “pending regulatory action for past violations”. It lastly accredited the IPO plan in January 2018. However, the corporate couldn’t launch the preliminary share-sale as a consequence of averse market situations.