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16-Jan2018

Barbeque-Nation Hospitality receives SEBI's nod for IPO

Barbeque-Nation Hospitality has received market regulator Securities and Exchange Board of India's (SEBI) approval to raise an estimated Rs 700 crore through Initial Public Offering (IPO). The proceeds from the issue will be utilized towards setting-up of new restaurants in India, repayment of loans, and general corporate purposes.

The IPO comprises fresh issue of shares worth Rs 200 crore and an offer for sale of up to 6,179,000 equity shares. The offer includes a reservation of up to 1.5 lakh equity shares for the company's employees.

IIFL Holdings, Edelweiss Financial Services, Jefferies India and SBI Capital Markets are the book running lead managers to the issue.

Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants, has steadily grown its owned and operated restaurant network from a single restaurant in 2006-07 to 81 till June 30, 2017.




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