Barbecue Nation secured SEBI approval to raise Rs.1200 crore via the IPO route. The IPO will include a fresh issue of shares worth Rs.275 crore and the remaining as an offer for sale or OFS. It is also looking at pre IPO placement with anchor investors. Proceeds of the IPO will be used repay outstanding loans of Rs.205 crore and for general corporate purposes.

The company is promoted by Sayaji Hotels and the Dhanani family and is backed by private equity investor, CX Partners. Currently, promoters hold 60.24%, CX Partners 33.79% while Alchemy Capital holds the balance 2.05%. Barbecue Nation owns and operates 138 outlets across India plus another 7 outlets in the UAE, Oman and Malaysia.