Barbeque Nation Can Also File DRHP For IPO:
Barbeque Nation Hospitality – the company behind the well-known chain of casual dining restaurants will by the first week of September file the draft papers with the capital market regulator for a initial public offering (IPO).
The IPO can comprise one-third fresh shares and two-third stake sale by the existing promoters. The DRHP should get filed by end of August, give it plus minus four to five days here or there
Barbeque Nation is an associate company of Sayaji Housekeeping Services, a wholly-owned subsidiary of Indore-headquartered and BSE-listed Sayaji Hotels. Sayaji Housekeeping owns 47.4 percent in Barbeque Nation while Delhi-based CX Partners owns majority stake. The private equity firm could sell as much as half of its stake through the IPO.
The company has appointed Edelweiss Securities and IIFL as merchant bankers to the issue.
Barbeque Nation also owns the India master franchise rights for American burger chain Johnny Rockets.
Barbeque Nation pioneered the concept of live grills embedded under dining tables – allowing customers to grill their own barbeque.
This ‘DIY’ (do-it-yourself) concept, championed by Barbeque Nation, is quite a hit with customers, who have also lapped up the chain’s offering of unlimited vegetarian and non-vegetarian starters for less than Rs 1,000. It also offers buffet and unlimited desserts under the same package.
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