Barbeque-Nation Hospitality Limited, one of India’s leading casual dining restaurant chains (in terms of outlet count as on September 30, 2020 as per Technopak Report), received bids of 98,75,790 shares against the offered 49,99,609 equity shares, as per the 5:00 pm data available on the bourses.
The portion reserved for retail investors was subscribed 9.66 times. While the Qualified Institutional Buyer category was subscribed 0.37 times, the Non-Institutional Investor category was subscribed 0.10 times. The employee category was subscribed 0.70 times.
The offer consists of a fresh issuance of equity shares aggregating up to 180 Cr and an Offer for sale of up to 54,57,470 equity shares of face value of Rs 5 each by the selling shareholders. The minimum bid lot is 30 equity shares, thereafter in multiples. The price band has been fixed at Rs. 498 – Rs. 500 per Equity Share.
Prabhudas Lilladher and Nirmal Bang have recommended subscribing to the issue indicating robust revenue growth and consistent progress in covers while key brokerage houses like Kotak Securities, ICICI Direct, Angel Broking, Equirus, Ventura have highlighted positive aspects of the Company like, widely recognized restaurant brand, strong emphasis on customer experience, pioneering the ‘Over The Table Barbeque' concept, integrated digital ecosystem for app and reservations, consistent cover growth in recent fiscals, a strong presence in the Indian market and value-oriented business culture amongst others.
The IPO is a fresh issuance of equity shares of Rs 5 face value, aggregating up to Rs 180 cr, and an offer for sale of up to 54,57,470 equity shares of face value of Rs 5 each by the selling shareholders. Equity shares aggregating up to Rs. 2 crores will be reserved for eligible employees. The issue will be closed on Friday, March 26, 2021.