Barbeque Nation IPO: Barbeque Nation’s share sale via initial public offering (IPO) will open for subscription on Wednesday, March 24, in the price band of Rs 498- Rs 500 per equity share. The public offer of the company will close on Friday, March 26, remaining open for investors for a period of three days. Through its initial public offer, Barbeque Nation plans to raise around Rs 453 crore at the upper end of the price band. The IPO consists of a fresh issue of shares worth ₹180 crore and an offer for sale of up to 5.46 million equity shares by the present shareholders and promoters.
According to data on stock exchanges, the Barbeque Nation IPO market lot size is 30 shares. The minimum order quantity of the IPO is 30 shares. A retail investor can apply for a maximum of up to 13 lots, specifically 390 shares or Rs 195,000. The shares are proposed to be listed on stock exchanges BSE and NSE. The date of the listing is not decided as yet.
The company’s main objective of making the public offer is to fulfill the prepayment or repayment of all or a part of the company’s outstanding borrowings, that were availed on a consolidated basis. Through its IPO, it also intended to complete general corporate purposes.
Barbeque Nation was incorporated in 2006 and now functions as the country’s fastest-growing restaurant brand. It is one of the leading casual dining restaurant chains in the country and offers a wide variety of both vegetarian and non-vegetarian meals.
The very first Barbeque Nation restaurant was established in 2008. As of November 30, 2019, the network has been grown to 138 restaurants across 73 cities in the country and seven of them are established overseas.