Barbeque Nation IPO launches today: Key things to know before subscribing

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LAST UPDATED: March 24, 2021, 12:11 p.m.

New Delhi (Anish Yande): Barbeque Nation Hospitality, the casual dining chain has launched its initial public offering today. The Barbeque Nation IPO is the eighth IPO launched in March 2021. Barbeque Nation issue would be opening from March 24 and closing on March 26.

Barbeque Nation IPO details:

The Rs 452.87-crores IPO would consist of a fresh issue of shares of Rs 180 crore and an offer-for-sale up to 54,57,470 equity shares. The offer-for-sale would be issued by Sayaji Housekeeping Services Ltd, Tamara Pvt, Dhanani family, and AAJV investment Trust and Menu Pvt.

The price band of the Barbeque Nation issue is fixed at Rs 498 to Rs 500 per share at a face value of Rs 5 per share. The minimum lot size of the Barbeque Nation IPO would consist of 30 shares. 

The promoters currently retain a stake of up to 60.24 percent. Sayaji Hotels, which is owned by the Dhanani family, holds a stake of 45.7 percent in Barbeque Nation.

Promoters of the company include Sayaji Housekeeping Services, Suchitra Dhanani, Raoof Dhanani, Kayum Dhanani, and Sayaji Hotels. The casual dining chain is backed by the private equity firm CX Partners. 

CX Partners currently has a stake of 33.79 percent in the casual dining chain. Rakesh Jhunjhunwala’s investment firm Alchemy Capital has a stake of 2.05 percent in the dining chain.

Important things to know about the Barbeque Nation issue:

Following the IPO, the promoter shareholding in the company would be reduced from 47.8 percent before the issue to 38.1 percent.

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The lead managers to the Barbeque Nation issue are  IIFL Securities, Axis Capital, Ambit Capital, and SBI Capital. The casual dining chain had raised Rs 150 crore via a pre-IPO placement from Xponentia Capital and Jubilant Foodworks. The company issued 5.95 million shares to these investors.

Barbeque Nation would be utilizing Rs 54.6 crore as capital expenditure generated from the issue. Barbeque Nation would be utilizing Rs 75 crore for prepayment or repayment of the company’s borrowings.  The casual dining chain has 147 restaurants across 77 cities in India and six international outlets in Oman, U.A.E., and Malaysia. 

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