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...