Barbeque Nation IPO coming out on 24 March. Company to raise 453 Crore from IPO.
About BBQ Nation IPO
Everyone’s beloved buffet restaurant chain Barbeque Nation is coming out with its initial public offering (IPO) on Wednesday 24 March 2021. The share price is set at a price band of 498 – 500 INR per share. IPO is set to close on Friday 26 March 2021.
IPO will consist of around 5.46 Million equity shares, these offering of the shares could be worth INR 180 crore. This is by their current shareholders and promoters, these include Sayaji, Azhar Dhanani, Housekeeping Services Sadiya Dhanani, Sanya Dhanani, Aajv Investment Trust and Menu Private Limited, Tamara,etc
The Dhanani family owns 45.7 % shares in Barbeque Nation. This is through their subsidiary of listed flagship Sayaji Hotels. CX Partners owns 21.72% of the restaurant chain and the big bull investor Rakesh Jhunjhunwala holds 2.07% in BBQ nation through his investment firm Alchemy Capital.
As per information from the stock exchanges the lot size of Barbeque Nation IPO is a minimum of 30 shares, which means a minimum of 30 shares has to be taught per investor. For a retail investor, a maximum of 13 lots can only be applied for.
BBQ Plans with raised capital
With the capital raised from Barbeque Nation IPO, the company plans to spend ₹54.62 crores to open 6 new Barbeque Nations in various cities, between 2022 and 2023.
Barbeque Nation also plans to clear off their debts of ₹75 crores out of their total debts of ₹148.10 crores.
Points to note for Barbeque Nation IPO
| 1. IPO issue will open on the 23rd March and ends on the 26th March. | |
| 2. Barbeque Nation IPO to be listed on Both NSE and BSE. | |
| 3. Company plans to raise a total of 453 Crore from IPO | |
| 4. Company also plans to keep 75 per cent of the Barbeque Nation stocks for qualified institutional investors and 15 % from qualified institutional investors. | |
| 5. Barbeque Nation will use the funds to pay off its debts and further expand its business. |
About Barbeque Nation
Barbeque Nation company was started in 2006 and is now one of India’s most successful dining restaurant chains, especially in the Buffet category. The first BBQ nation opened in 2008. They offer their famous buffets in both veg and non – veg categories.
As of December 2020, the Barbeque Nation owns 164 restaurants. Of these, they operate 146 restaurants in India and the rest others in UAE, Oman and Malaysia.
It is also a point to note that, Barbeque Nation is so well managed and successful that they have never shut down a single BBQ nation chain.