Barbeque Nation IPO to open on March 24th
Published On: Monday, March 22, 2021 | By: Team KnowMyStock
Casual dining restaurant chain Barbeque Nation Hospitality’s IPO opens on Wednesday on March 24 with an issue price of Rs 498-500 per share. The three-day public issue will conclude on March 26, according to the company. Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala's investment firm Alchemy Capital. The initial public offer comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 54,57,470 equity shares. 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 investor can apply for a maximum of up to 13 lots, specifically 390 shares or ₹ 195,000. The shares are proposed to be listed on stock exchanges BSE and NSE. The date of the listing is not decided as yet.
The company's main objective of making the public offer is to fulfil the prepayment or repayment of all or a part of the company's outstanding borrowings, that were availed on a consolidated basis. Through its IPO, it also intended to complete general corporate purposes. Barbeque Nation was started in Mumbai in 2006, providing diners a different experience with live counters and operating in the Rs 600-900 per meal price point. It reported Rs 850 crore in revenue for the financial year 2019-20.
Tags: IPO restaurant Barbeque Nation
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