Friday, October 11

Tag: Barbeque Nation

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr
Market

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, whic...
Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala
Market

Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala

One of the top investor Rakesh Jhunjhunwala's co-founded firm, Alchemy Capital Management, has recently invested Rs 80-90 crore in CX Partners-backed casual dining restaurant chain Barbeque Nation Hospitality Ltd before the IPO placement. “Alchemy Capital has picked up a minority stake in Barbeque Nation through Alchemy India Fund for a consideration of around ₹80-90 crore. The pre-IPO placement valued the company at ₹2,300-2,400 crore”. According to the reports, The capital will be used to build new restaurants and also for repayment of debt. In 2013, CX Partners had invested in the restaurant chain, Alchemy Capital was set up in 1999. The first Barbeque-Nation restaurant was launched in 2005. The company operated 81 restaurants across 42 cities in India and one in Dubai till 30 J...