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News Details

Barbeque-Nation Hosp announces launch of initial public offering

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22/03/2021 13:10
Barbeque-Nation Hospitality Ltd. has announced public offering of 4618288 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 495.00 per share. The gross proceeds of the issue are expected to be Rs 23,091.44 lakhs.

The company's initial public offer (IPO) will open on 24 March 2021 and is expected to close on 26 March 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 498.00-500.00 per share.

The IPO includes a fresh Issue of 4618288 Equity Shares of the Company at an price of Rs 500.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 30 shares with bids in multiples of 30.

Barbeque-Nation Hospitality Ltd. anticipates using the proceeds of the issue for Capital expenditure for expansion and opening of new restaurants by the Company Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company on a consolidated basis General corporate purposes.

Axis Capital Ltd.,Ambit Capital Private Limited,SBI Capital Markets Limited,IIFL Securities Limited as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.