Barbeque Nation IPO record: The IPO of Barbeque Nation Hospitality will likely be indexed at the NSE and BSE on April 7 (Wednesday). Barbeque Nation finalised the allotment of IPO remaining week. The gray marketplace top class of the unlisted stocks has plunged sharply, signaling susceptible record. This would be the first IPO record within the monetary 12 months 2021-22.
Barbeque Nation is a well-liked informal eating chain. Its IPO was once subscribed 5.98 occasions. As in line with NSE information, the Rs 453-crore factor won bids for two,99,01,510 stocks towards 49,99,609 stocks on be offering. While the class for certified institutional consumers (QIBs) was once subscribed 5.11 occasions, non-institutional traders 3.10 occasions, and retail particular person traders (RIIs) 13.13 occasions.
The preliminary public be offering comprised a recent factor of Rs 180 crore and an be offering on the market of 54,57,470 fairness stocks. Price vary for the be offering was once at Rs 498-500 in line with proportion.
In the gray marketplace, the GMP of Barbeque Nation stocks has fallen to Rs 10-12 from Rs 40 per week in the past. The scrip is buying and selling within the Rs 510-512 vary.
The corporate had raised Rs 203 crore from anchor traders. Barbeque Nation Hospitality is sponsored via non-public fairness investor CX Partners and famend inventory marketplace investor Rakesh Jhunjhunwala’s funding company Alchemy Capital.
The corporate will use the proceeds of the recent factor to fund its capital expenditure for growth, but even so prepayment or compensation of sure borrowings and bills associated with normal company functions. The corporate is promoted via Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. It is sponsored via non-public fairness company CX Partners, which made its first funding in 2013 and once more in 2015.
Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants.