Casual dining chain Barbeque Nation Hospitality has fixed a price band of Rs 498-500 per share for the initial share sale. The company’s IPO will open for subscription on March 24 and will close on March 26. Barbeque Nation Hospitality is backed by the investment firm Alchemy Capital of private equity investor CX Partners and stock market veteran Rakesh Jhunjhunwala. The issue has a fresh issue of Rs 180 crore, while 54,57,470 equity shares are being issued through Offer for Sale (OFS).
Equity shares of up to Rs 2 crore have been reserved for qualified employees. An IPO at the upper end of the price band is expected to fetch Rs 453 crore. The company has already raised Rs 150 crore through pre-IPO placements from Xponentia Capital and Jubilant Foodworks.
How much will be the minimum investment?
A lot of the issue of Barbeque Nation Hospitality is 30 shares. According to the upper price band of 500 rupees, it will have to invest at least Rs 15,000. After this, you can invest in multiples of the same.
The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Qayyum Dhanani, Azhar Dhanani, Roff Dhanani and Suchitra Dhanani. Apart from this, CX Partners made their first investment in 2013 and then in 2015.
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