Barbeque Nation IPO: In chat with Anil Singhvi, CEO Rahul Agrawal says money will be used to cut debt
Barbeque Nation IPO: Casual dining chain Barbeque Nation Hospitality IPO will open on Wednesday, March 24. Ahead of the opening of the issue, Zee Business Managing Editor Anil Singhvi spoke to Barbeque Nation CEO Rahul Agrawal.
Barbeque Nation IPO: Casual dining chain Barbeque Nation Hospitality IPO will open on Wednesday, March 24. Ahead of the opening of the issue, Zee Business Managing Editor Anil Singhvi spoke to Barbeque Nation CEO Rahul Agrawal.
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"The bid lot for Barbeque Nation IPO is 35 shares and in multiple thereof, while the price band for this IPO has been put at Rs 498 to Rs 500. With the issue size of Rs 452 to 453 crore, Barbeque Nation Hospitality IPO will open on Wednesday (March 24) and the bid offer will close on Friday, March 26. Barbeque Nation comprises OFS of Rs 273 and fresh issue of Rs 180," said Anil Singhvi, while giving a short brief about the issue.
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"The company started its operation as casual dining chain in 2006 and now has 147 restaurants in 77 cities spread across the country. Besides, It also has its business in three countries, where it runs 6 restaurants. The company also runs 10 Italian restaurants in Bengaluru-Chennai with the name of 'Red Apple'," informed the Market Guru.
"Since our launch with one restaurant in Mumbai in 2006, several other similar restaurants have come up. But the most important thing about our restaurant is the value that it provides, which is exceptional. We also provide very good service and experience to our customers. We also have guest satisfaction index for customers. In our company, most of the employees' incentives' are dependent on customer satisfaction," said Agrawal, explaining the difference between Barbeque Nation from other, somewhat similar, rivals.
Talking about the company's business, Agrawal said," Our EBITDA is very healthy. We have opened around 70 to 75 new restaurants in the last three years, which is why depreciation is quite high currently. We had a little high debt in FY 20, which we have paid from the money raised in pre-IPO. If we successfully raise money from the IPO, more debt will be cleared by the company," he said.
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