New Delhi:Barbeque Nation IPO to open on Wednesday, Easygoing feasting chain Barbeque Nation Hospitality on Monday fixed a value band of Rs 498-500 for each offer for its underlying offer deal, which will open for public membership on March 24. The three-day public issue will close on March 26, as per the organization.
Grill Nation Hospitality is sponsored by private value financial backer CX Partners and eminent securities exchange financial backer Rakesh Jhunjhunwala’s speculation firm Alchemy Capital.
The underlying public offer contains a new issue of offers worth Rs 180 crore and an offer-available to be purchased of up to 54,57,470 value shares.
Value shares collecting up to Rs 2 crore has been held for qualified representatives.
At the upper finish of the value band, the IPO is required to bring Rs 453 crore.
The organization has effectively raised Rs 150 crore through a pre-IPO arrangement from Xponentia Capital and Jubilant Foodworks.
Continues from the issue will be used to finance the organization’s capital consumption for the development and opening of new eateries additionally, prepayment or reimbursement of specific borrowings and costs identified with general corporate purposes.
The organization is advanced by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is sponsored by CX Partners, which made its first interest in 2013 and again in 2015.
The advertisers hold 60.24 percent, CX Partners possesses 33.79 percent and Jhunjhunwala’s venture firm Alchemy Capital holds 2.05 percent of the organization.
The complete working income of the organization in FY20 was Rs 850.8 crore and the CAGR from FY17 to FY20 was at 19.5 percent.
Grill Nation Hospitality, which documented primer papers in February a year ago, got Sebi’s endorsement in July 2020 to glide the IPO.
The issue is being overseen by IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets.
Grill Nation Hospitality, possesses and works Barbeque Nation Restaurants.
It additionally works Toscano eateries and UBQ by Barbeque Nation Restaurant.
As of December 2020, Barbeque Nation Hospitality works 147 outlets across India and six outlets across three nations – UAE, Oman and Malaysia.
Prior in 2017, the organization had documented IPO papers with Sebi trying to raise Rs 700 crore. Notwithstanding, the controller stayed with the preparing of the’s proposed IPO in hold “forthcoming administrative activity for past infringement” lastly affirmed the IPO plan in January 2018.
Albeit, the organization couldn’t dispatch the underlying offer deal because of unfavorable economic situations.