InvestorQ : Can you tell me about the forthcoming IPO of Barbecue Nation that is slated to open in the coming week?
Dia Deshpande made post

Can you tell me about the forthcoming IPO of Barbecue Nation that is slated to open in the coming week?

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swati Bakhda answered.
3 weeks ago
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Barbeque Nation has just announced the details of its forthcoming IPO which is slated to open on Wednesday, 24 March and close for subscription on Friday 26 March. The IPO will be in the price band of Rs.498- 500 per share. Overall, Barbeque Nation plans to raise around Rs.453 crore at the upper end of the price band and this will consist of Rs.180 crore by way of a fresh issue and Rs.273 crore by way of an offer for sale or OFS.

The existing promoters will be part of the group that hives off 5.46 million shares as part of the OFS. The Barbeque Nation IPO will have a market lot size of 30 shares, which will be the minimum size of the IPO application worth Rs.15,000 at the upper end of the band. Retail investors can apply for a maximum of 13 lots, which is equivalent to 390 shares worth Rs.195,000. The listing of the stock will only happen in April, the next fiscal year.

The OFS part of the issue is intended to give an exit to existing investors and help them monetize their equity investment. The fresh issue portion of the issue has the objective of fulfilling the prepayment or repayment obligations of the company's borrowings, which were availed on a consolidated basis.

Barbeque Nation is one more addition to the growing list of QSR or quick service restaurant IPOs. The company was started in India in 2006 and is currently India’s fastest-growing restaurant brand. Since its inception in 2008, the network of Barbeque Nation has grown to 138 restaurants and 7 abroad. The company is promoted in India by the Sayaji Group of hotels that is based out of Vadodara in Gujarat.

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