Barbeque-Nation files DRHP with Sebi for Rs 700 crore IPO

Casual dining restaurant chain Barbeque-Nation Hospitality on Monday filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. The issue size is approximately Rs 700 crore.

The Bengaluru-based company's IPO comprises of a fresh issue of up to Rs 200 crore and an offer for sale of up to 61.8 lakh shares by the company's existing shareholders including Aajv Investment Trust, Tamara Private Limited, Azhar Dhanani, Kayum Dhanani, Sanya Dhanani and Sadiya Dhanani.

The IPO proceeds will be utilised for setting up new restaurants in India, repayment or prepayment of loans of the company and its subsidiaries, and for general corporate purposes.

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