Restaurant and Hospitality chain Barbeque Nation had issued preferential equity shares to three investors. Approved by its stakeholder’s relationship committee, the restaurant chain has raised about Rs. 100 crores with this move.
This committee, in their recent Saturday meeting, has approved 11,77,855 paid-up equity share allotment with Rs. 5 per share face value. According to the regulator filing by Barbeque Nation, these shares have been issued (at a premium pricing of Rs. 844) under this preferential allotment.
Who are the Investors?
As mentioned earlier, these shares were issued to three preferred investors. Here are the details –
- Probably the most prominent name on this list is the Massachusetts Institute of Technology. The company allotted 7,06,713 equity shares to MIT at an aggregated valuation of Rs. 59,99,99,337.
- Motilal Oswal Equity OFS II has received equity shares of 2,94,464 against Rs. 24,99,99,936.
- Plan Associates LLC has been allocated 1,76,678 equity shares, amounting to Rs. 14,99,99,622.
As a result of this allotment, Barbeque Nation’s paid-up share capital has increased from Rs. 18,78,27,100 to Rs. 19,37,16,375.
Barbeque Nation IPO at a Glance
The restaurant and hospitality chain has recently closed its public issue as well. The company hosted its IPO in March, between 24 and 26, and received an overall subscription of 5.98 times. Here is segregation of its subscription detail as per investor category –
- Qualified Institutional Buyers: 5.11 times
- Non-institutional Investors: 3.10 times
- Retail Individual Investors: 13.13 times
- Employees: 1.02 times
Furthermore, the company has issued 4,999,609 equity shares as a part of this public offering. Here is a glance at its category-wise distribution –
- QIB: 2,705,242
- NII: 1,352,620
- Retail: 901,747
- Employee: 40,000
Additionally, the total issue size of this IPO was Rs. 452.87 crores. It included fresh issue equity shares of Rs. 180 crores, and an offer for sale worth Rs. 272.87 crores.
Barbeque Nation has been a stable performer since its Dalal Street debut. This move enabled the company in accumulating additional funds for various purposes. However, if you have not managed to secure allotment during the public issue, you can now buy shares via the Angel One platform.
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Frequently Asked Questions
- Where are the shares of Barbeque Nations listed?
The shares of Barbeque Nation are listed on BSE and NSE.
- What is the current market capitalisation of Barbeque Nation?
The current market capitalisation of Barbeque Nation is Rs. 4,237 crores.
- What is the face value of Barbeque Nation shares?
The face value of Barbeque Nation shares is Rs. 5 per share.