Barbeque-Nation Hospitality’s Rs 453-crore IPO is going to open for subscription on Wednesday, at a price band of Rs 498-500 per share of face value of Rs 5, each. The issue will close on Friday, March 26, 2021. The hospitality chain IPO comprises a fresh issue of shares worth Rs 180 crore and offer-for-sale (OFS) of up to 54.57 lakh shares by the existing shareholders and promoters. Investors can make bids for a minimum of 30 equity shares and in multiples thereafter, translating to a minimum investment amount of Rs 15,000 per lot at the higher price band. So far, no grey market activity was seen in Barbeque Nation Hospitality Ltd.
The OFS comprises shares sale in Barbeque Nation Hospitality by following shareholders:
*Sayaji Housekeeping Services Ltd: 10.18 lakh shares
*Azhar Dhanani: 3.39 lakh shares
*Sadiya Dhanani: 3.39 lakh shares
*Sanya Dhanani: 3.39 lakh shares
*Tamara Private Ltd: 33.23 lakh shares
*Aajv Investment Trust: 71,186 shares
*Menu Private Ltd: 26,600 shares
The company has reserved up to 75 per cent of the net offer for qualified institutional buyers (QIBs), 10 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The company has also reserved shares worth Rs 2 crore for its employees. Barbeque-Nation Hospitality Ltd and Tamara Private Ltd (TPL) have already raised Rs 149.97 crore by selling 59.51 lakh equity shares through pre-IPO placement. The fresh issue size stands reduced at Rs 180 crore, according to red herring prospectus. The equity shares are proposed to be listed on both BSE and NSE. The book running lead managers to the issue are IIFL Securities Ltd, Axis capital Ltd, Ambit Capital Private Ltd and SBI Capital Markets Ltd. While Link Intime Private ltd will be the registrar to Barbeque-Nation Hospitality Ltd issue.
