New Delhi: Casual dining chain Barbeque Nation Hospitality may come out with its initial share sale next week, merchant banking sources said on Friday.
Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital.
The initial public offer comprises fresh issue of shares worth Rs 180 crore.
The company has already raised Rs 150 crore through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks, they added.
Proceeds of the issue will be utilised to fund the company’s capital expenditure for expansion, besides prepayment or repayment of certain borrowings and expenses related to general corporate purposes.
The total operating revenue of the company in FY20 was Rs 850.8 crore and the CAGR from FY17 to FY20 was at 19.5 per cent.