Barbeque-Nation Hospitality has raised nearly Rs 100 crore through preferential issue of equity shares to three different investors, including Massachusetts Institute of Technology. The company's stakeholders' relationship committee in its meeting on September 4, 2021 approved an allotment of 11,77,855 fully paid-up equity shares of a face value of Rs 5 each at a premium of Rs 844 by preferential allotment.
The company has allotted 7,06,713 equity shares to Massachusetts Institute of Technology for an aggregate subscription amount of Rs 60 crore. On the other hand, 1,76,678 equity shares have been allotted to 238 Plan Associates LLC for an aggregate subscription amount of Rs 15 crore. Motilal Oswal Equity Opportunities Fund Series-II has been allotted 2,94,464 equity shares for an aggregate subscription amount of Rs 25 crore. Consequent upon the above allotment, the paid-up share capital of the company has increased to Rs 19.37 crore from Rs 18.78 crore.
Barbeque-Nation Hospitality is one of the leading casual dining chains in India, the company pioneered the concept of 'over the table barbeque' live grills embedded in dining tables - allowing guests to grill their own barbecue’s right at their tables.
