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Home » business » Barbeque Nation shares rise 20%, hits upper circuit again

Barbeque Nation shares rise 20%, hits upper circuit again

The Barbeque Nation is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani, and Suchitra Dhanani and is backed by CX Partners, which made its first investment in 2013 and again in 2015.

By Newsd
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Barbeque Nation shares rise 20%, hits upper circuit again

Barbeque Nation Hospitality’s share price today is Rs 705.35 on the BSE, up 20% or Rs 117.55. The stock witnessed good buying after getting listed and got locked at the upper circuit. 

The stock of Barbeque Nation Hospitality, which owns and operates the popular chain of Barbeque Nation Restaurants, yesterday opened at Rs 492, a 1.6 percent discount against its issue price on the BSE.

The casual dining chain Barbeque-Nation Hospitality Rs 453-crore public issue was subscribed nearly 6 times and was sold in the range of Rs 498-500 per share. The issue was launched on March 24 and closed on March 26. 

Before the IPO, Barbeque Nation had raised Rs 202 crore by allocating 40.58 lakh equity shares at Rs 500 apiece to 15 anchor investors.

The company has steadily grown, owned, and operated the network of Barbeque Nation restaurants, starting from a single restaurant in 2008 to 147 restaurants across 77 cities in India and six International Barbeque Nation Restaurants in three countries outside India as of December 31, 2020. Around 71 restaurants have been added since April 2017 (24 restaurants have been added since April 2019). 

The Barbeque Nation is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani, and Suchitra Dhanani and is backed by CX Partners, which made its first investment in 2013 and again in 2015.

The promoters hold 60.24 percent, CX Partners owns 33.79 percent, and Jhunjhunwala”s investment firm Alchemy Capital holds 2.05 percent of the company.

Barbeque Nation competes with listed peers such as Speciality Restaurants in the dining segment, while some of its quick-servicing rivals are Westlife Development Ltd., Jubilant Foodworks Ltd., and Burger King.

 

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