Barbeque Nation IPO: Let's Look At Its IPO Listing & Promoters

One must have heard about the Barbeque-National Hospitality which opened its first restaurant in 2008. So far, the company has opened 147 restaurants in 77 city across the world. Till December 2020, the company was successfully running six outlets in three countries.

Since, the name of the company was changed to Barbeque-Nation Hospitality Private Limited on February 18, 2008. Later, on March 4, 2008, it was converted to into a public limited company and the name was again change to Barbeque-Nation Hospitality Limited. So, in this write-up we look at its Initial Public Offering (IPO) which was opened on March 24 and closed on March 26.

Barbeque Nation IPO Listing

The allotment of shares was finalized under the IPO of Barbecue Nation, a company backed by veteran investor Rakesh Jhunjhunwala. The IPO of Barbecue Nation received decent response from investors and was subscribed 5.98 times.

Earlier, Rakesh Jhunjhunwala's investment company Nazara Technology had a strong entry in the market, which has also created a craze for the listing of Barbecue Nation.

The IPO of Barbecue Nation was opened from March 24 to March 26 and its price band was fixed at Rs 498-500. One lot was of 30 shares.

Investors got good response

The IPO of Barbecue Nation received a good response from investors. This IPO got 5.98 times the bids overall. As per the data available on NSE, the IPO received bids for 2.99 crore shares, while the issue size was 50 lakh shares.

The reserve portion for retail investors was subscribed 13.13 times, while the reserve portion for Qualified Institutional Buyers (QIBs) was subscribed 5.11 times. The reserve portion for non-institutional investors was subscribed 3.10 times. The reserve person for the employees also got 1.02 times the bids.

In the IPO, the company had reserved 75 per cent of the total book for qualified institutional buyers, while 10 per cent for retail investors and the remaining 15 per cent for non-institutional investors

The company had decided to issue shares worth Rs 2 crore to its employees.

After looking at the IPO of the company, now let's look at the promoters of the Barbeque Nation.

Company's Promoters

The promoters of Barbeque Nation are Sayaji Housekeeping Service, Qayyum Dhanani, Rauf Dhanani and Suchitra Dhanani. All of them together hold 60.24 percent stake in the company. While CX Partners holds 33.79 percent and Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 percent.

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