Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr
India based casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering.
The IPO comprises a fresh issue of shares worth Rs275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the Securities and Exchange Board of India (Sebi).
The company may consider a pre-IPO placement to the tune of Rs150 crore.
Proceeds of the issue will be utilised to repay an outstanding borrowing of Rs 205 crore in part or full and for general corporate purposes.
The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by private equity firm CX Partners, whi...