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Mr. Rahul Agrawal, Chief Executive Officer & Whole Time Director, Barbeque Nation Hospitality Ltd
Barbeque-Nation Hospitality Limited (referred to as BNHL or the Company), one of India’s leading casual dining restaurant chains (in terms of outlet count as on September 30, 2020) according to a report dated February 19, 2021 prepared by Technopak Advisors Private Limited (the “Technopak Report”), will open the bid/offer period in relation to its initial public offeringof equity shares(the “Offer”/ “IPO”) on Wednesday, March 24, 2021 and close on Friday, March 26, 2021.The price band for the Offer has been decided at Rs. 498– Rs. 500per equity share. The Company and Tamara Private Limited (“TPL”), a selling shareholder,may in consultation with the book running lead managers (the “BRLMs”), consider participation by anchor investors, which shall be one working day prior to the bid/Offer opening date, i.e. Tuesday, March 23, 2021.
The IPO is a fresh issuance of equity sharesof 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 Company proposes to utilise the net proceeds from the fresh issue towards expansion and opening of new restaurants by the Company, prepayment or repayment of certain outstanding borrowings in part or in full availed by the Company on a consolidated basis and for general corporate purposes.
BNHL pioneered the format of ‘over the table barbeque’ concept in Indian restaurants according to the Technopak Report. The first Barbeque Nation restaurant was launched in 2006 by one of the promoters, Sayaji Hotels Limited (“SHL”). BNHL launched its first Barbeque Nation restaurant in 2008and subsequently acquired five restaurants owned and operated by SHL in 2012.As of December 31, 2020, BNHL currently operates 147 Barbeque Nation restaurants (including opened, temporarily closed and under construction outlets) across 77 cities in India and six international Barbeque Nation restaurants across three countries namely UAE, Oman and Malaysia. BNHL has diversified its offering by acquiring 61.35% stake (on a fully diluted basis) in Red Apple Kitchen Consultancy Private Limited which currently owns and operates Italian restaurants under the brand name “Toscano”, a casual dining Italian restaurant chain operating in Pune, Bengaluru and Chennai, “La Terrace” and “Collage”. The Company has further extended its offerings by introducing UBQ by Barbeque Nation to providea-la-carte Indian cuisine in the value segment.As of December 31, 2020, the Company was providing delivery in 77 cities in India under UBQ by Barbeque Nation from its existing kitchen infrastructure.It has also launched “Barbeque-in-a-Box” in June 2020 as one of their delivery products. This is in addition to two other products, “Grills in a Box” and “Meals in our Box”, which are offered through delivery among other offerings.
IIFL Securities Limited, Axis Capital Limited, Ambit Capital Private Limitedand SBI Capital Markets Limited are the BRLMs to the issue.