Home Food Barbeque Nation files IPO papers to raise Rs 700 crore

Barbeque Nation files IPO papers to raise Rs 700 crore

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Bengaluru-based Hospitality Ltd on Monday said it has filed draft documents for an initial public offering (IPO) with Securities and Exchange Board of India (Sebi) to raise about Rs 700 crore.

Barbeque Nation files IPO papers to raise Rs 700 crore
The funds raised from the IPO will be utilized towards expansion of Barbeque Nation restaurants in the country, repayment of loans of the company and its subsidiaries

The IPO of company, which operates Barbeque Nation restaurants, comprises of a fresh issue of up to Rs 200 crore besides an offer for sale of up to 61.79 lakh equity shares by company’s promoters, including , , , , and , according to a release issued by the company.

The funds raised from the IPO will be utilized towards expansion of Barbeque Nation restaurants in the country, repayment of loans of the company and its subsidiaries.

“The offer includes a reservation of up to 1.5 lakh equity shares, for subscription by eligible employees,” it added.

, , and are the book running lead managers to the issue and Link Intime India is the Registrar.