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Barbeque Nation IPO opens today: Here are key details for investors to know

Barbeque Nation IPO opens today: Here are key details for investors to know
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Barbeque Nation IPO opens today: Here are key details for investors to know

Barbeque Nation IPO opens at this time: Here are key details for investors to know

The three-day public providing will shut on 26 March whereas the problem is anticipated to get listed on 7 April.

Barbeque Nation IPO opens today: Here are key details for investors to know

The emblem of Barbeque Nation. Wikimedia Commons

Barbeque Nation Hospitality opened its preliminary public providing (IPO) on Wednesday, 24 March. The three-day public providing will shut on 26 March whereas the problem is anticipated to get listed on 7 April.

In accordance to the info out there on the exchanges, the general public subject of the corporate has been subscribed 48 % on the primary day of bidding thus far. The retail investors have put in bids 2.61 occasions adopted by 3 % subscription for non-institutional investors (NII). Nevertheless, the certified institutional patrons (QIB) haven’t put of their bids but, in accordance to Moneycontrol.

A worth band of Rs 498- Rs 500 per share has been fastened for the preliminary share sale. The IPO contains a contemporary subject of shares price Rs 180 crore and an offer-for-sale of up to 54,57,470 fairness shares.

For eligible workers of the corporate, fairness shares summing up to Rs 2 crore has been reserved. The difficulty can be anticipated to elevate Rs 453 crore on the higher finish of the worth band. The corporate has raised Rs 203 crore from anchor investors on Tuesday, 23 March.

The primary goal of the problem is to use the proceedings to make prepayment or compensation of all or part of the corporate’s excellent borrowings availed on a consolidated foundation and to meet basic company functions.

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The promoters of the corporate embody Sayaji Resorts, Sayaji Housekeeping Companies, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. They are backed by CX Companions and famend inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital.

60.24 % shares of the corporate are with the promoters whereas CX Companions owns 33.79 % adopted by Alchemy Capital holding 2.05 % of the corporate.

The lead managers of the Barbeque Nation IPO are Ambit Personal Restricted, Axis Capital Restricted, IIFL Holdings Restricted, SBI Capital Markets Restricted. Whereas the registrar of the corporate is Hyperlink Intime India Personal Ltd.

With inputs from PTI

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