Barbeque Nation Hospitality Limited IPO Review (Barbeque Nation IPO GMP)
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Incorporated in 2006, Barbeque Nation Restaurants is one of the leading casual dining restaurant chains in India. It offers the best quality of food offerings, ambiance, and services to customers. It also owns and operates Toscano Restaurants and UBQ by Barbeque Nation that caters to the delivery segment.
The first Barbeque Nation Restaurant was established in 2008 and as of November 30, 2019, the network has been steadily grown to 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants in 3 countries outside India. The company has recently diversified into another brand "Red Apple" which operates 10 Italian restaurants in 2 cities of India i.e. Bengaluru and Chennai.
Competitive strengths
- One of India's fastest-growing restaurant brands.
- Diversified offerings for both vegetarian and non-vegetarians.
- Experienced promoters and managers team.
- Healthy financial position with a proven track record of revenue growth.
Company Promoters:
Sayaji Hotels Limited, Sayaji Housekeeping Services Limited, Kayum Dhanani, Raoof Dhanani, and Suchitra Dhanani are the company promoters.
Company Financials:
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 30-Nov-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 9,085.85 | 9,554.58 | 8,190.85 | 7,231.60 | |
| Total Revenue | 2,366.08 | 8,507.94 | 7,425.41 | 5,904.48 | |
| Profit After Tax | (1,006.48) | (329.28) | (383.86) | (58.00) | |
Objects of the Issue:
- To make prepayment/repayment of all or a part of the company's outstanding borrowings availed on a consolidated basis.
- To meet general corporate purposes.
Barbeque Nation IPO Details
| IPO Opening Date | Mar 24, 2021 |
| IPO Closing Date | Mar 26, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per equity share |
| IPO Price | ₹498 to ₹500 per equity share |
| Market Lot | 30 Shares |
| Min Order Quantity | 30 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹5 (aggregating up to ₹452.87 Cr) |
| Fresh Issue | [.] Eq Shares of ₹5 (aggregating up to ₹180.00 Cr) |
| Offer for Sale | 5,457,470 Eq Shares of ₹5 (aggregating up to ₹272.87 Cr) |
Barbeque Nation IPO Tentative Timetable
The Barbeque Nation IPO open date is Mar 24, 2021, and the close date is Mar 26, 2021. The issue may list on Apr 7, 2021.
| IPO Open Date | Mar 24, 2021 |
| IPO Close Date | Mar 26, 2021 |
| Basis of Allotment Date | Apr 1, 2021 |
| Initiation of Refunds | Apr 5, 2021 |
| Credit of Shares to Demat Account | Apr 6, 2021 |
| IPO Listing Date | Apr 7, 2021 |
Barbeque Nation IPO Lot Size
The Barbeque Nation IPO market lot size is 30 shares. A retail-individual investor can apply for up to 13 lots (390 shares or ₹195,000).
Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 30 | ₹15,000 |
| Maximum | 13 | 390 | ₹195,000 |
Barbeque Nation IPO Promoter Holding
| Pre Issue Share Holding | 60.21% |
| Post Issue Share Holding |
Barbeque Nation IPO Prospectus
Grey Market Premium or GMP Today of Barbeque Nation IPO
The Grey Market Premium of Barbeque Nation IPO is rumored to be Rs 550 today(15:01 IST). For exact GMP, stay tuned.
Balance Sheet / Financials of Barbeque Nation IPO
| Parameter | MAR 20 | MAR 19 | |
|---|---|---|---|
| EQUITY AND LIABILITIES | NA | NA | |
| Share Capital | 139.96 | 139.92 | |
| Equity - Authorised | 300.00 | 300.00 | |
| Equity - Issued | 139.96 | 139.92 | |
| Equity Paid Up | 139.96 | 139.92 | |
| Equity Shares Forfeited | 0.00 | 0.00 | |
| Adjustments to Equity | 0.00 | 0.00 | |
| Preference Capital Paid Up | 0.00 | 0.00 | |
| Face Value | 5.00 | 5.00 | |
| Share Warrants & Outstandings | 47.31 | 35.98 | |
| Total Reserves | -128.11 | 1140.38 | |
| Securities Premium | 1631.01 | 1628.42 | |
| Capital Reserves | 0.00 | 0.00 | |
| Profit & Loss Account Balance | -1715.07 | -464.72 | |
| General Reserves | 0.00 | 0.00 | |
| Other Reserves | -44.05 | -23.32 | |
| Reserve excluding Revaluation Reserve | -128.11 | 1140.38 | |
| Revaluation reserve | 0.00 | 0.00 | |
| Shareholder's Funds | 59.16 | 1316.28 | |
| Minority Interest | 52.31 | 0.00 | |
| Long-Term Borrowings | 0.00 | 0.00 | |
| Secured Loans | 1650.64 | 1092.96 | |
| Non Convertible Debentures | 0.00 | 0.00 | |
| Converible Debentures & Bonds | 0.00 | 0.00 | |
| Packing Credit - Bank | 0.00 | 0.00 | |
| Inter Corporate & Security Deposit | 0.00 | 0.00 | |
| Term Loans - Banks | 1561.05 | 1420.47 | |
| Term Loans - Institutions | 472.60 | 0.00 | |
| Other Secured | -383.01 | -327.51 | |
| Unsecured Loans | 0.00 | 0.00 | |
| Fixed Deposits - Public | 0.00 | 0.00 | |
| Loans and advances from subsidiaries | 0.00 | 0.00 | |
| Inter Corporate Deposits (Unsecured) | 0.00 | 0.00 | |
| Foreign Currency Convertible Notes | 0.00 | 0.00 | |
| Long Term Loan in Foreign Currency | 0.00 | 0.00 | |
| Loans - Banks | 0.00 | 0.00 | |
| Loans - Govt. | 0.00 | 0.00 | |
| Loans - Others | 0.00 | 0.00 | |
| Other Unsecured Loan | 0.00 | 0.00 | |
| Deferred Tax Assets / Liabilities | -277.90 | -304.53 | |
| Deferred Tax Assets | 277.90 | 336.90 | |
| Deferred Tax Liability | 0.00 | 32.37 | |
| Other Long Term Liabilities | 5002.24 | 3621.91 | |
| Long Term Trade Payables | 0.00 | 0.00 | |
| Long Term Provisions | 85.32 | 114.07 | |
| Total Non-Current Liabilities | 6460.30 | 4524.41 | |
| Current Liabilities | NA | NA | |
| Trade Payables | 1125.13 | 768.30 | |
| Sundry Creditors | 1125.13 | 768.30 | |
| Acceptances | 0.00 | 0.00 | |
| Due to Subsidiaries- Trade Payables | 0.00 | 0.00 | |
| Other Current Liabilities | 1091.80 | 1046.99 | |
| Bank Overdraft / Short term credit | 0.00 | 0.00 | |
| Advances received from customers | 0.00 | 0.00 | |
| Interest Accrued But Not Due | 8.26 | 3.39 | |
| Share Application Money | 0.00 | 0.00 | |
| Current maturity of Debentures & Bonds | 0.00 | 0.00 | |
| Current maturity - Others | 0.00 | 0.00 | |
| Other Liabilities | 1083.54 | 1043.60 | |
| Short Term Borrowings | 414.66 | 157.10 | |
| Secured ST Loans repayable on Demands | 149.42 | 50.06 | |
| Working Capital Loans- Sec | 149.42 | 50.06 | |
| Buyers Credits - Unsec | 0.00 | 0.00 | |
| Commercial Borrowings- Unsec | 0.00 | 0.00 | |
| Other Unsecured Loans | 115.82 | 56.98 | |
| Short Term Provisions | 73.32 | 73.24 | |
| Proposed Equity Dividend | 0.00 | 0.00 | |
| Provision for Corporate Dividend Tax | 0.00 | 0.00 | |
| Provision for Tax | 10.61 | 39.70 | |
| Provision for post retirement benefits | 6.26 | 3.00 | |
| Preference Dividend | 0.00 | 0.00 | |
| Other Provisions | 56.45 | 30.54 | |
| Total Current Liabilities | 2704.91 | 2045.63 | |
| Total Liabilities | 9276.68 | 7886.32 | |
| ASSETS | NA | NA | |
| Gross Block | 12633.46 | 9808.86 | |
| Less: Accumulated Depreciation | 4506.60 | 2985.63 | |
| Less: Impairment of Assets | 0.00 | 0.00 | |
| Net Block | 8126.86 | 6823.23 | |
| Lease Adjustment A/c | 0.00 | 0.00 | |
| Capital Work in Progress | 108.92 | 158.86 | |
| Non Current Investments | 0.00 | 0.00 | |
| Long Term Investment | 0.00 | 0.00 | |
| Quoted | 0.00 | 0.00 | |
| Unquoted | 0.00 | 0.00 | |
| Long Term Loans & Advances | 367.98 | 280.94 | |
| Other Non Current Assets | 0.00 | 0.00 | |
| Total Non-Current Assets | 8603.76 | 7263.03 | |
| Current Assets Loans & Advances | NA | NA | |
| Currents Investments | 0.00 | 0.00 | |
| Quoted | 0.00 | 0.00 | |
| Unquoted | 0.00 | 0.00 | |
| Inventories | 149.25 | 192.73 | |
| Raw Materials | 0.00 | 0.00 | |
| Work-in Progress | 0.00 | 0.00 | |
| Finished Goods | 0.00 | 0.00 | |
| Packing Materials | 0.00 | 0.00 | |
| Stores and Spare | 15.46 | 52.91 | |
| Other Inventory | 133.79 | 139.82 | |
| Sundry Debtors | 21.51 | 48.99 | |
| Debtors more than Six months | 1.65 | 14.68 | |
| Debtors Others | 21.51 | 48.99 | |
| Cash and Bank | 146.96 | 119.81 | |
| Cash in hand | 2.50 | 18.39 | |
| Balances at Bank | 144.46 | 101.42 | |
| Other cash and bank balances | 0.00 | 0.00 | |
| Other Current Assets | 214.51 | 194.43 | |
| Interest accrued on Investments | 5.79 | 3.87 | |
| Interest accrued on Debentures | 0.00 | 0.00 | |
| Deposits with Government | 0.00 | 0.00 | |
| Interest accrued and or due on loans | 0.00 | 0.00 | |
| Prepaid Expenses | 72.54 | 115.48 | |
| Other current_assets | 136.18 | 75.08 | |
| Short Term Loans and Advances | 140.69 | 67.33 | |
| Advances recoverable in cash or in kind | 93.64 | 56.37 | |
| Advance income tax and TDS | 0.00 | 0.00 | |
| Amounts due from directors | 0.00 | 0.00 | |
| Due From Subsidiaries | 0.00 | 0.00 | |
| Inter corporate deposits | 0.00 | 0.00 | |
| Corporate Deposits | 0.00 | 0.00 | |
| Other Loans & Advances | 47.05 | 10.96 | |
| Total Current Assets | 672.92 | 623.29 | |
| Net Current Assets (Including Current Investments) | -2031.99 | -1422.34 | |
| Miscellaneous Expenses not written off | 0.00 | 0.00 | |
| Total Assets | 9276.68 | 7886.32 | |
| Contingent Liabilities | 914.14 | 20.63 | |
| Total Debt | 2449.63 | 1578.56 | |
| Book Value | 0.42 | 45.75 | |
| Adjusted Book Value | 0.42 | 45.75 |
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