Barbeque Nation IPO: Barbeque Nation’s share sale via Initial Public Offering (IPO) will open for subscription from Wednesday, March 24, in the price band of Rs 498- Rs 500 per equity share. The IPO of one of the leading casual dining restaurant chains in the country will close on Friday, March 26, remaining open for investors for a period of three days. Through its initial public offer, the company 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 individual investor can apply for up to 13 lots, specifically 390 shares or ₹195,000. The shares are proposed to be listed on stock exchanges BSE and NSE.
The company’s main objectives of making the public offer are to fulfill the prepayment or repayment of all or a part of the company’s outstanding borrowings availed on a consolidated basis. Through its IPO, it also intended to complete general corporate purposes.
Barbeque Nations was incorporated in 2006 and now functions as the country’s fastest-growing restaurant brand. Apart from food services, it also provides customer-centric services such as ambiance. 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.