Wednesday, August 16, 2017

Barbeque-Nation Hospitality Limited Files IPO Papers with SEBI

Bangalore based Barbeque-Nation Hospitality Limited, one of India's leading casual dining restaurant chains according to the Technopak Report., filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO). 

The IPO comprises of a fresh issue of up to Rs. 2,000 million and Offer for sale of up to 6,179,000 equity shares comprising an Offer of Sale of up to 109,800 equity shares by Aajv Investment Trust, up to 4,729,200 equity shares by Tamara Private Limited, up to 400,000 equity shares by Azhar Dhanani, up to 270,000 equity shares by Kayum Dhanani, up to 270,000 equity shares by Sanya Dhanani and up to 400,000 equity shares by Sadiya Dhanani, 

The offer includes a reservation of up to 150,000 equity shares, for subscription by eligible employees

The equity shares will have a face value of Rs 5 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).
  
The Net Proceeds from the Issue will be utilized towards  (i) setting-up of new Barbeque Nation restaurants in India; (ii) Repayment or prepayment of loans of the  Company and Subsidiaries; (iii) General corporate purposes

IIFL Holdings Limited, Edelweiss Financial Services Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the book running lead managers to the issue and Link Intime India Private Limited is the Registrar.

Barbeque Nation Hospitality Limited: Barbeque Nation Hospitality Limited (BNHL) owns and operates Barbeque Nation Restaurants, one of India's leading casual dining restaurant chains according to the Technopak Report. The first Barbeque Nation Restaurant was launched in 2005 by Sayaji Hotels, one of the company’s promoters. Five Barbeque Nation Restaurants owned by Sayaji Hotels were transferred to BNHL in 2012. The company has steadily grown its owned and operated Barbeque Nation Restaurant network from a single restaurant in Fiscal 2007 to 81 Barbeque Nation Restaurants in 42 cities in India (including one currently under renovation) and one restaurant in Dubai as of June 30, 2017. In addition, as of June 30, 2017, it had granted the franchise rights of one Barbeque Nation Restaurant.

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