Barbeque Nation Hospitality, the casual-dining restaurant chain, is expected to finalise the IPO share allocation in the coming week.
The last of the initial public offering among the main board IPOs for the March quarter opened for subscription on March 24 and closed on March 26 after being subscribed almost six times. Qualified institutional buyers subscribed their portion 5.11 times and non-institutional investors 3.10 times. The portion set aside for retail investors was subscribed 13.13 times and that of employees 1.02 times.
Barbeque Nation raised Rs 453 crore through the issue, which comprised a fresh issue of Rs 180 crore and an offer for sale of Rs 273 crore equity shares by shareholders. The company will use the fresh issue funds for repaying debt.
The casual dining restaurants chain in consultation with merchant bankers will finalise IPO share allotment around April 1, as per the schedule available in the red herring prospectus.
Here are two options available for investors to check the allotment status:
One is provided by the IPO's registrar on its website. One needs to select 'Barbeque Nation Hospitality Limited - IPO' in the dropdown list and then enter either PAN, application number or DP Client ID. Finally, click on 'search' button.
The share allotment can also be checked on the BSE website. Check box on 'equity' under issue type and select 'Barbeque-Nation Hospitality Limited' in the dropdown list. Enter 'application number' and 'PAN number'. And finally click on 'search'.
If the information provided by the investor is correct, then the number of shares allotted will be reflected on the screen.
The company will refund funds to anchor investors, if any, as well as unblock ASBA account around April 5. Equity shares will get credited to eligible investors' demat account around April 6 and the trading in equity shares will commence the next day.
As of December 2020, Barbeque Nation Hospitality operated 147 Barbeque Nation restaurants (including opened, temporarily closed and under construction outlets) in 77 Indian cities and six restaurants in UAE, Oman and Malaysia .
According to the red herring prospectus, the company reported losses during FY18-FY20 as well as in the eight months period ended November 2020.
The company clocked consolidated loss of Rs 32.93 crore on revenue of Rs 846.97 crore in FY20, and a loss of Rs 100.65 crore on Rs 201 crore revenue in the eight-month period ended November 2020, largely due to the COVID-19 pandemic.
But the operating performance was better with EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 168 crore and Rs 12.59 crore in FY20 and in eight months period ended November 2020.