Barbeque Nation files IPO papers; to raise Rs 700 crore

Bengaluru-based Barbeque-Nation Hospitality today said it has filed draft documents for an Initial Public Offering (IPO) with regulator SEBI to raise about Rs 700 crore.

The IPO of company, which operates Barbeque-Nation restaurants, comprises of a fresh issue of up to Rs 200 crore besides an offer for sale of up to 61.79 lakh equity shares by company's promoters, including Aajv Investment Trust, Tamara, Azhar Dhanani, Kayum Dhanani, Sanya Dhanani and Sadiya Dhanani, according to a release issued by the company.

The funds raised from the issue will be utilised towards expansion of Barbeque Nation restaurants in the country, repayment of loans of the company and its subsidiaries.

"The offer includes a reservation of up to 1.5 lakh equity shares, for subscription by eligible employees", it added.

IIFL Holdings, Edelweiss Financial Services, Jefferies India and SBI Capital Markets are the book running lead managers to the issue and Link Intime India is the Registrar.