Barbeque Nation Hospitality IPO: Do not worry if you have missed the opportunity to take advantage of the boom in the IPO market. On March 24, the IPO of Barbecue Nation, another company invested by veteran investor Rakesh Jhunjhunwala, is opening. Even before this, the IPO of online gaming and sports media platform Najara Tech has come, in which Rakesh Jhunjhunwala has a significant stake. Barbecue Nation’s IPO opens on 24 March. Its price band has been fixed at Rs 498-500. This issue will be open for investment till March 26.
How much stake of Rakesh Jhunjhunwala
The company has a fresh issue of Rs 180 crore, while 54,57,470 equity shares are being issued through the offer for sale. Let us know that the Bangalore-based company has invested in Alchem Capital, a firm of veteran investor Rakesh Jhunjhunwala, and private equity firm CX Partners. Promoters hold a 60.24 per cent stake in Barbecue Nation. CX Partners holds 33.79 per cent and Rakesh Jhunjhunwala’s investment firm Alchemy Capital holds 2.05 per cent. The promoters of the company are Sayaji Housekeeping Service, Azhar Dhanani, Saadia Dhanani, Sanaya Dhanani, Tamara, Aajav Investment Trust and Menu Private Limited to sell their shares in Offer for Sale.
At least how much investment
A lot is of 30 shares. That is, investors will have to bid for at least 30 shares. The upper price band is 500 rupees, so in this case at least 15000 rupees have to be invested. After this, you can invest in multiples of the same. The company has already raised Rs 150 crore through IPO placements from Xponentia Capital and Jubilant Foodworks.
Who gets how many shares?
The company has reserved 75 percent of the total book for qualified institutional buyers. 10 percent for retail investors and 15 percent of the rest is for non-institutional investors. The company has decided to issue shares worth Rs 2 crore to its employees.
About the company
As of December 2020, Barbeque Nation Hospitality is operating 147 outlets in 77 cities across the country and 6 in 3 countries UAE, Oman and Malaysia. The company opened its first restaurant in 2008. The company’s total operating revenue in FY 2020 (FY20) was Rs 850.8 crore and the CAGR for FY17 to FY20 was 19.5 per cent. Barbecue Nation Hospitality had applied to SEBI for an IPO in February last year and in July 2020, SEBI approved the IPO.