One of the IPOs in the talks and top discussions from days is finally here! Barbeque Nation’s bidding for Hospitality’s IPO starters on Wednesday and continue for 3 days, and end on Friday this week.
The recent plan of the casual dining restaurant chain is to raise Rs 452.87 crore through its public issue. If talking about the total issue size, then the company already raised Rs 202.89 crore from other anchor investors. The restaurant chain that grills mouth-watering chicken tikka to all other barbeque foods and delicacies is going to sell Rs 498-500 apiece in its first seed public offer.
Moreover, it will also issue a fresh set of Rs 180 crore and a new offer for sale of up to 54,57,470 equity shares by existing selling stakeholders by Sayaji Housekeeping Services Ltd.
In case you are thinking of stepping into the IPO, then you must know that the company has reserved Rs 2 crore worth of equity shares for its workforce or employees. And it has been decided that the investors can only bid for a minimum of 30 equity shares, and more, thereafter.
The company stated the utilization of the proceeds will be done for the expansion and opening up new restaurant chains, and repayment of certain outstanding borrowings or debts. Moreover, it will be also used for other general business purposes.
The famous restaurant chain “Barbeque Nation” discovered the concept of “over the table barbeque” in Indian restaurants as per the Technopak Report. Its first restaurant was launched in 2006, by one of the promoters namely Sayaji Hotels.
On the present note, currently, the company operates 147 restaurants (inclusive of opened, temporarily closed, and under construction) across the nation in around 77 cities and six international Barbeque Nation restaurants in three countries namely Oman, Malaysia, and UAE.
Lastly, it is one of India’s fastest-growing and popular restaurant chains or brands in the growing casual dining sector restaurant (CDR) market. Hence, it could be a profitable deal!
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