Casual dining restaurant chain Barbeque Nation Hospitality may issue its IPO next week, merchant banking sources said on Friday.
Veteran investor Rakesh Jhunjhunwala’s investment firm Alchemy capital and private equity investor CX partners holds the major stake in this company.
The IPO offers fresh issue of shares worth Rs 180 crore and an offer-for-sale up to 54,57,470 equity shares, the sources said.
The company has already raised Rs 150 crore through pre-IPO placement from Xponentia Capital and Jubiliant Foodworks they added.
Incorporated in 2006, Barbeque Nation offers the best quality of food offerings, ambiance, and services to customers. It also owns and operates Toscano Restaurants and UBQ by Barbeque Nation that caters to the delivery segment.
It has a strong growing network of 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants in 3 countries outside India.
Sayaji Hotels Limited, Sayaji Housekeeping Services Limited, Kayum Dhanani, Raoof Dhanani, and Suchitra Dhanani are the company promoters.
Profit After Tax
Summary of financial Information (₹ in million)
Objective of the issue:
The proceeding of the issue will be utilised to fund the company’s capital expenditure for expansion and prepayment or repayment of certain borrowings and expenses related to general corporate purposes.