Barbeque-Nation Hospitality Limited, one of India's leading casual dining restaurant chains (in terms of outlet count as on September 30, 2020) as per Technopak Report; has raised Rs. 202 crore from 15 anchor investors a day prior to its Issue Opening. The company informed the bourses that it has allocated 40,57,861 equity shares at Rs. 500 per share on March 23, to the anchor investors.
7 Foreign Portfolio Investors who participated in the anchor were Fidelity, Eastspring Investment, Nomura, Goldman Sachs, Kuber India and UPS Group Trust. Each of these investors were allocated 2,70,510 equity shares for approximately Rs 13.53 crs totaling to approximately INR 94.68 crs.
8 domestic investors (including 5 mutual funds across 11 schemes, 2 AIFs and 1 Life Insurance company) were allocated a total of 21,64,291 shares for approximately Rs. 108.21 Crs. These included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, HDFC Life, Pioneer Investment Fund and Motilal Oswal Select Opportunities Fund Series II.
IIFL Securities Limited, Axis Capital Limited, Ambit Capital Private Limited and SBI Capital Markets Limited are the BRLMs to the issue.
The IPO is a fresh issuance of equity shares of Rs 5 face value, aggregating up to Rs 180 cr and an offer for sale of up to 54,57,470 equity shares of face value of Rs 5 each by the selling shareholders. Equity shares aggregating up to Rs. 2 crore will be reserved for eligible employees. The issue will open for subscription on Wednesday, March 24, 2021 and close on Friday, March 26, 2021.
The Offer is being made in accordance with Regulation 6(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and through a book building process wherein at least 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers. Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received from them at or above the Offer Price.