Barbeque Nation IPO opens on Mar 24
BARBEQUE Nation Hospitality Limited (BNHL), dining restaurant chain, has announced its Initial Public Offering (IPO) with a price brand of Rs 498 to 500 per equity share.
Barbeque-Nation to grow delivery biz
Hyderabad: BARBEQUE Nation Hospitality Limited (BNHL), dining restaurant chain, has announced its Initial Public Offering (IPO) with a price brand of Rs 498 to 500 per equity share. The offering will be open on March 24 and close on March 26, with a minimum bid lot of 30 equity shares and in multiples thereof.
The company will be aggregating up to Rs 180 crore by offering up to 5.5 million shares and about Rs 2 crore through sale by the existing shareholders at face value of Rs 5.
The promoters hold 60.24 per cent, CX Partners owns 33.79 per cent and Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent of the company. The total operating revenue of the company in FY20 was Rs 850.8 crore and the CAGR from FY17 to FY20 was at 19.5 per cent.
The company proposes to utilise the net proceeds from the fresh issue towards expansion and opening of new restaurants, prepayment or repayment of certain outstanding borrowings in part or in full availed by the company on a consolidated basis and for general corporate purposes.
BNHL currently operates 147 restaurants (including opened, temporarily closed and under construction outlets) across 77 cities in India and six international restaurants across three countries namely UAE, Oman and Malaysia.
BNHL is promoted by Sayaji Hotels, Sayaji Housekeeping services, Kayum Dhanani, Rao of Dhanani and Suchitra Dhanani and is backed by CX Partners, which made its first investment in 2013 and again in 2015.
