Barbeque-Nation IPO: Barbeque-Nation oversubscribed 5.98 times on last bidding day

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Mumbai: The Rs 453 crore-initial public supply (IPO) of Barbeque-Nation Hospitality, a restaurant chain, was subscribed 5.98 times on Friday — the ultimate day of bidding course of. The subject obtained bids of two.99 crore shares towards the 49.99 lakh shares on supply, in accordance with inventory trade knowledge.

The portion reserved for retail traders was subscribed 13.13 times. The certified institutional purchaser (QIB) class was subscribed 5.11 times whereas the non-institutional investor class was subscribed 3.10 times.

The IPO was a recent issuance of fairness shares of Rs 180 crore and an offer-for-sale of as much as 54.57 lakh shares. The firm had on Tuesday raised Rs 202 crore from 15 anchor traders. As on December 31, 2020, the corporate operated 147 Barbeque-Nation eating places throughout 77 cities in India and 6 shops in UAE, Oman and Malaysia.

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