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Barbeque-Nation files DRHP with SEBI to float IPO

16 Aug 2017 Evaluate

Bengaluru-based Barbeque Nation Hospitality has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The public issue comprises a fresh issue of up to Rs 200 crore and an offer for sale of up to 61.8 lakh shares by the company's existing shareholders.

The net proceeds from the issue will be utilized for setting up new restaurants in India, repayment or prepayment of loans of the company and its subsidiaries, and for general corporate purposes. The book running lead managers to the issue are IIFL Holdings, Edelweiss Financial Services, Jefferies India and SBI Capital Markets.

The restaurant chain was founded in 2006 and had 81 outlets across the country as on 31 March 2017. Besides, it has one restaurant in Dubai and has also been granted franchise rights for one of its Barbeque Nation restaurants.

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