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Barbeque Nation IPO subscribed 1.65 times, NII portion booked 8% on the second day

The preliminary public providing (IPO) of Barbeque Nation IPO Hospitality, an informal eating restaurant chain, has been subscribed to 1.65 occasions by the morning of March 25, the second day of bidding. 

Buyers have put in bids for 82.68 lakh fairness shares in opposition to the supplied measurement of 49.99 lakh fairness shares, knowledge out there on exchanges present Barbeque Nation IPO

Barbeque Nation IPO

The portion put aside for certified institutional patrons (QIB) has subscribed 37 p.c and that of non-institutional buyers (NII) 8 p.c. Retail buyers have put in bids 7.92 than their reserved portion and workers portion was booked 47 p.c.

Barbeque Nation Hospitality operates one in every of India’s main informal eating restaurant chains. The corporate owned 164 eating places as on December 2020, which incorporates 147 Barbeque Nation Eating places in 77 cities in India, six worldwide eating places in India and 6 outdoors India.

The corporate additionally owns Italian restaurant model Toscano with different two manufacturers La Terrace and Collage. The corporate pioneered the over-the-table-barbeque idea.

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Barbeque Nation Hospitality’s round 70 p.c of the shops are positioned in metros and remaining in Tier 2 and three cities. Jubilant Foodworks acquired a ten.76 p.c stake within the chain in January 2021 at Rs 252 per share, with an funding of Rs 92 crore.

The corporate is planning to lift round Rs 453 crore by way of the general public challenge, which contains a contemporary challenge of Rs 180 crore and a proposal on the market of Rs 273 crore by current promoting shareholders. The web contemporary challenge proceeds will probably be used for the enlargement and opening of recent eating places and repaying of money owed

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