Mumbai: Casual dining chain Barbeque Nation Hospitality has filed for an IPO after getting approval from markets regulator Sebi. The IPO comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 5,457,470 equity shares, according to an addendum filed with the Securities and Exchange Board of India (Sebi).
Laste year in August, the company had received Sebi's approval to raise about Rs 1,000-1,200 crore through an IPO comprising a fresh issue of shares worth Rs 275 crore and an offer-for-sale of up to 98,22,947 equity shares.
The issue is being managed by IIFL Securities, Axis Capital, Ambit Capital, SBI Capital Markets and Link Intime.
In 2017, the company had filed IPO papers with Sebi seeking to raise Rs 700 crore. However, the regulator kept the processing of the company's proposed IPO in abeyance "pending regulatory action for past violations" and finally approved the IPO plan in January 2018. Although, the company could not launch the initial share-sale due to averse market conditions.
BNHL operates Barbeque Nation (BBQ), an Indian cuisine casual dining Brand, which introduced the concept of live grilling of kebabs to the Indian market. It owns and operates 138 Barbeque Nation restaurants across 73 cities in India and seven international Barbeque Nation restaurants in the UAE, Oman and Malaysia. It also has a presence in the Italian cuisine segment under the brand Toscano.
BNHL had reported a total revenue of Rs 742.5 crore in 2018-19 on a consolidated basis.
Earlier in December last year, Jubilant Foodworks, which operates fastfood chains Domino's Pizza and Dunkin' Donuts in India, had acquired a 10.76 per cent equity stake into Barbeque-Nation Hospitality Ltd (BNHL) Rs 92 crore.
(With PTI inputs)