Barbeque Nation’s share sale by way of an preliminary public providing (IPO) will open for subscription on Wednesday and the three-day public problem will conclude on Friday, March 26. Barbeque Nation Hospitality is backed by non-public fairness investor CX Companions and inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital. The corporate has already raised ₹150 crore by way of a pre-IPO placement from Xponentia Capital and Jubilant Foodworks. The corporate filed preliminary papers in February 2020 and obtained the Securities and Change Board of India’s (Sebi’s) approval in July in the identical 12 months to drift its IPO.
Earlier than that, it filed IPO papers with Sebi searching for to boost ₹700 crore in 2017. Nonetheless, the regulator stored the processing of the corporate’s proposed IPO in abeyance “pending regulatory motion for previous violations” and eventually accredited the IPO plan in January 2018. The corporate couldn’t launch the preliminary share-sale attributable to antagonistic market circumstances.
Right here what it’s essential to find out about Barbeque Nation’s IPO:
1.Barbeque Nation Hospitality has mounted a worth band of ₹498-500 per share for its preliminary share sale. On the higher finish of the value band, the IPO is anticipated to fetch ₹453 crore.
2. Barbeque Nation’s IPO contains a recent problem of shares value ₹180 crore and an offer-for-sale of as much as 54,57,470 fairness shares.
3. Fairness shares aggregating as much as ₹2 crore has been reserved for eligible workers.
4. The corporate plans to make use of the proceeds from the difficulty sale to fund its capital expenditure for the growth and opening of latest eating places. It additionally plans to prepay or repay sure borrowings and bills associated to normal company functions.
5. The problem is being managed by IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets.
6. The corporate is promoted by Sayaji Motels, Sayaji Housekeeping Companies, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by CX Companions, which made its first funding in 2013 and once more in 2015.
7. The promoters maintain 60.24 per cent, CX Companions owns 33.79 per cent and Jhunjhunwala’s Alchemy Capital holds 2.05 per cent of the corporate. The full working income of the corporate in FY20 was ₹850.Eight crore and the CAGR from FY17 to FY20 was at 19.5 per cent.
8. Barbeque Nation Hospitality owns and operates Barbeque Nation Eating places. It additionally operates Toscano eating places and UBQ by Barbeque Nation Restaurant. Barbeque Nation Hospitality operates 147 retailers throughout India and 6 retailers throughout three international locations – the UAE, Oman and Malaysia – as of December 2020.
(With company inputs)