![]() Crisil assigns grade 1/5 to Bhagwati Banquets IPOPublished on Thu, Nov 09, 2006 at 08:10 | Source : Moneycontrol.com Updated at Thu, Nov 09, 2006 at 15:31
Bhagwati Banquets and Hotels proposes to enter capital market with a public issue of 23 million equity shares at a target price of Rs 30 per share aggregating Rs 690 million, as per press release. Bhagwati Banquets and Hotels, BBHL was incorporated in November 1999 as a private limited company. The company was subsequently converted to a public limited company in April 2000. BBHL currently has a presence in Ahmedabad with its indoor catering and banquet hotel, outdoor catering, contract-catering & club rooms and restaurants. Other business activities by promoter companies outside the purview of BBHL include banqueting (small gatherings accommodating 60 to 200 people), bakery products and a 70-room hotel in Ahmedabad. For the year ended March 2006, BBHL reported a net profit of Rs 13.7 million on operating income of Rs 230.4 million.
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