Avoid to Barbeque Nation Hospitality: YES Securities

YES Securities has come out with its report on Barbeque Nation Hospitality. The research firm has recommended to ''Avoid'' the ipo in its research report as on March 23, 2021.

Broker Research

March 24, 2021 / 15:00 IST

26 Aug, 2025 12:21

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YES Securities IPO report on Barbeque Nation Hospitality

Barbeque Nation (BBQN) is one of the leading casual dining restaurant chains which pioneered the “live grill on the table” format. After starting in 2008, the company has now grown to 164 restaurants – 147 BBQ Nation stores in India, 6 international stores and 11 stores of Italian cuisine Toscano. The company has also entered the delivery segment by introducing “UBQ” providing a-la-carte Indian cuisine in the value segment and “Barbeque-in-a-Box” as one of their flagship delivery products. Promoted by Sayaji Hotels and the Dhanani family, key shareholders include CX Partners, Jubilant Foodworks, Xponentia and Alchemy.

Valuation and Outlook

Despite a strong growth outlook for the space (18% expected industry CAGR) and strong brand equity for the company which should help market share gains, we would advise avoiding the IPO and awaiting better entry opportunities post listing.

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