Barbeque Nation IPO opens today: Price, date Issue size, bid lot and other details for investors | Sharekhan Highlights

Barbeque Nation is coming out with an initial public offer (IPO), comprising a fresh issue of equity shares amounting to Rs 180 cr and an offer for sale (OFS) of Rs 272-273 cr. The price band for the said issue is Rs 498-500 per share. At the lower and upper price band, the fresh equity issuance stands at 36.0-36.1 lakh shares. The OFS amounts to around 5.46 lakh shares. The Bid Lot is 30 Shares and in multiple thereof. The Issue opens today and closes on Friday, 26th Mar’2021.

Barbeque Nation owns and operates Barbeque Nation, one of India’s leading casual dining restaurant chains (in terms of number of outlets as on September 30, 2020) according to the Technopak Report and International Barbeque Nation Restaurants. 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 on December 31, 2020. Around 71 restaurants have been added since April2017 (24 restaurants have been added since April 2019).

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Barbeque Nation also owns and operates Toscano Restaurants and UBQ by Barbeque Nation restaurants. Toscano is an Italian cuisine brand with 11 restaurants across three cities in India (and contributes 6% of revenues), while UBQ by Barbeque Nation(launched in November 2018) predominantly caters to the delivery segment.

As compared to other fixed price dining options, Barbeque Nation Restaurants offers competitive attractions such as a wide range of vegetarian and non-vegetarian appetisers and main courses, a popular dessert menu, a pleasant and casual dining environment and prompt services thereby making it a popular destination for celebrations. Consistent restaurant addition, higher churn out during weekdays/weekends and improved back-end efficiencies are some key growth drivers for the company. Revenue and operating profit grew at CAGR of 20.2% and 9.8% over FY2018-20. Its consolidated operating margins (OPM; including impact of Ind-AS116) stood at 19.4% in FY2020 (OPM of restaurants with more than two years of operations stood at 20%).