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Barbeque Nation IPO opens for subscription
March 24, 2021
The bidding for the initial public offer of Barbeque Nation Hospitality begins today. It is the last IPO in this financial year. Given the hit on the area because of the outbreak of COVID-19, numerous businesses have prescribed financial investors to maintain a strategic distance from the issue.
The casual dining café network is intending to raise ₹452.87 crore through its public issue at higher finish of the value band ₹498-500 for each offer. Of the complete issue size, the organization has effectively raised ₹202.89 crore from anchor financial investors, including marquee financial backers Nomura Funds, Goldman Sachs, Fidelity, Eastspring Investments India, UPS Group Trust, SBI Mutual Fund, ICICI Prudential and Kotak Mutual Fund, on March 23.
It had likewise cleaned up ₹150 crore through pre-IPO situation at ₹252 for each offer, which is almost 50% of its IPO issue cost.
The issue comprises of a new issue of ₹180 crore and a proposal available to be purchased of ₹272.87 crore. The net new issue continues will be used towards ongoing restaurant expansion and paying debts.
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