Barbeque Nation IPO opens at this time: Listed here are key particulars for buyers to know
The three-day public providing will shut on 26 March whereas the difficulty is predicted to get listed on 7 April.
Barbeque Nation Hospitality opened its preliminary public providing (IPO) on Wednesday, 24 March. The three-day public providing will shut on 26 March whereas the difficulty is predicted to get listed on 7 April.
In keeping with the info obtainable on the exchanges, the general public situation of the corporate has been subscribed 48 p.c on the primary day of bidding to this point. The retail buyers have put in bids 2.61 occasions adopted by 3 p.c subscription for non-institutional buyers (NII). Nonetheless, the certified institutional consumers (QIB) haven’t put of their bids but, based on Moneycontrol.
A worth band of Rs 498- Rs 500 per share has been mounted for the preliminary share sale. The IPO contains a recent situation of shares price Rs 180 crore and an offer-for-sale of as much as 54,57,470 fairness shares.
For eligible staff of the corporate, fairness shares summing as much as Rs 2 crore has been reserved. The difficulty can also be anticipated to lift Rs 453 crore on the higher finish of the value band. The corporate has raised Rs 203 crore from anchor buyers on Tuesday, 23 March.
The primary goal of the difficulty is to make use of the proceedings to make prepayment or reimbursement of all or part of the corporate’s excellent borrowings availed on a consolidated foundation and to satisfy normal company functions.
The promoters of the corporate embrace Sayaji Accommodations, Sayaji Housekeeping Providers, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. They’re backed by CX Companions and famend inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital.
60.24 p.c shares of the corporate are with the promoters whereas CX Companions owns 33.79 p.c adopted by Alchemy Capital holding 2.05 p.c of the corporate.
The lead managers of the Barbeque Nation IPO are Ambit Non-public Restricted, Axis Capital Restricted, IIFL Holdings Restricted, SBI Capital Markets Restricted. Whereas the registrar of the corporate is Hyperlink Intime India Non-public Ltd.
With inputs from PTI
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