Barbeque Nation IPO opens at the moment: Here are key details for investors to know – Business News , Firstpost

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

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 difficulty is anticipated to get listed on 7 April.

According to the information obtainable on the exchanges, the general public situation of the corporate has been subscribed 48 % on the primary day of bidding to this point. The retail investors have put in bids 2.61 instances adopted by three % subscription for non-institutional investors (NII). However, the certified institutional consumers (QIB) haven’t put of their bids but, in accordance to Moneycontrol.

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

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

The predominant goal of the difficulty is to use the proceedings to make prepayment or reimbursement of all or part of the corporate’s excellent borrowings availed on a consolidated foundation and to meet common company functions.

The promoters of the corporate embrace Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. They are backed by CX Partners and famend inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital.

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

The lead managers of the Barbeque Nation IPO are Ambit Private Limited, Axis Capital Limited, IIFL Holdings Limited, SBI Capital Markets Limited. While the registrar of the corporate is Link Intime India Private Ltd.

With inputs from PTI

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