One of the leading casual dining chains in India, Barbeque Nation pioneered the concept of “over the table barbeque” live grills embedded in dining tables – allowing guests to grill their own barbecue’s right at their tables. Company is raising Rs 452.87 Crores through this IPO.
| Promoters | SAYAJI HOTELS LIMITED, SAYAJI HOUSEKEEPING SERVICES LIMITED, KAYUM DHANANI, RAOOF DHANANI AND SUCHITRA DHANANI |
| IPO opens on | Mar 24, 2021 |
| IPO ends on | Mar 26, 2021 |
| Share Listing date | Apr 07, 2021 |
| Face value | Rs 5 per equity share |
| IPO Price | Rs 498 to 500 per share |
| Outstanding equity share prior to offer | 33942920 Equity Shares |
| Fresh issue amount | Rs 180 Cr |
| Offer for sale | Rs 272.87 Cr (5457470 Equity Shares assuming higher band price) |
| Market Lot Size | 30 shares |
| Max lots per retail investor | 13 lots (Rs 195000 assuming higher band price) |
| Pre-IPO Market cap (assuming higher band price) | Rs 1697.15 Cr |
| Post-IPO Market cap (assuming higher band price) | Rs 1877.15 Cr |
Sales and Profit/Loss data
Here is Barbeque Nation’s revenue/sales and net profit data in INR Crores
| Nov 30 2020 (8 months) | Mar 31 2020 (1y) | Mar 31 2019 (1y) | Mar 31 2018 (1y) | |
| Total Revenue | 201.00 | 846.97 | 739.01 | 586.34 |
| Net profit | -100.65 | -32.93 | -21.20 | -6.78 |
| Revenue growth | 14.6% | 26.03% |
Company valuation
Barbeque Nation is small cap company and its post IPO market cap is Rs 1877.15 Cr. at the upper band of IPO price and their total sale is Rs. 846.97 Cr in 2019-20. Since Hospitality industry is heavily impacted by covid, it might be better to consider 2019-20 revenue profit for evaluation purpose. The market cap to 2019-20 annual sale ratio is 2.21. The price to same ratio consider 2020-21 year (extrapolated sales) would be 14. The actual ratio can be considered somewhere between these two.
It may take some time for the restaurant to reach to normal sales. So there may not be much listing gain. So this is slightly riskier IPO and investors should keep the risk in mind before applying for this IPO.
