Barbeque Nation IPO itemizing tomorrow: Gray market premium falls, weak itemizing doubtless


BARBEQUE NATION IPO Itemizing On April 7

Barbeque Nation IPO itemizing: The IPO of Barbeque Nation Hospitality shall be listed on the NSE and BSE on April 7 (Wednesday). Barbeque Nation finalised the allotment of IPO final week. The gray market premium of the unlisted shares has plunged sharply, signaling weak itemizing. This would be the first IPO itemizing within the monetary 12 months 2021-22. 

Barbeque Nation is a well-liked informal eating chain. Its IPO was subscribed 5.98 occasions. As per NSE information, the Rs 453-crore problem acquired bids for two,99,01,510 shares towards 49,99,609 shares on supply. Whereas the class for certified institutional patrons (QIBs) was subscribed 5.11 occasions, non-institutional buyers three.10 occasions, and retail particular person buyers (RIIs) 13.13 occasions.

The preliminary public supply comprised a recent problem of Rs 180 crore and a suggestion on the market of 54,57,470 fairness shares. Value vary for the supply was at Rs 498-500 per share. 

Within the gray market, the GMP of Barbeque Nation shares has fallen to Rs 10-12 from Rs 40 every week in the past. The scrip is buying and selling within the Rs 510-512 vary.

The corporate had raised Rs 203 crore from anchor buyers. Barbeque Nation Hospitality is backed by non-public fairness investor CX Companions and famend inventory market investor Rakesh Jhunjhunwala’s funding agency Alchemy Capital.

The corporate will use the proceeds of the recent problem to fund its capital expenditure for enlargement, apart from prepayment or reimbursement of sure borrowings and bills associated to common company functions. The corporate is promoted by Sayaji Inns, Sayaji Housekeeping Companies, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. It’s backed by non-public fairness agency CX Companions, which made its first funding in 2013 and once more in 2015.

Barbeque Nation Hospitality owns and operates Barbeque Nation Eating places.

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