Barbeque Nation Hospitality IPO – Review, Allotment, Subscription, GMP & more

Barbeque Nation Hospitality own and operate Barbeque Nation Restaurants, one of India’s leading casual dining restaurant chains according to the Technopak Report. The first Barbeque Nation Restaurant was launched in 2005 by Sayaji Hotels, one of their promoters. Barbeque Nation Hospitality IPO comprises of  [●] Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Barbeque Nation Hospitality IPO release date, IPO offer price, subscription, Barbeque Nation Hospitality IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Barbeque Nation Hospitality IPO Review & Ratings

Barbeque Nation Hospitality IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Barbeque Nation Hospitality IPO

Barbeque Nation Hospitality IPOBarbeque Nation Hospitality own and operate Barbeque Nation Restaurants, one of India’s leading casual dining restaurant chains according to the Technopak Report. The first Barbeque Nation Restaurant was launched in 2005 by Sayaji Hotels, one of the company’s promoters. Five Barbeque Nation Restaurants owned by Sayaji Hotels were transferred to them in 2012.

The Company has steadily grown their owned and operated Barbeque Nation Restaurant network from a single restaurant in Fiscal 2007 to 81 Barbeque Nation Restaurants in 42 cities in India (including one currently under renovation) and one restaurant in Dubai as of June 30, 2017. The Issue comprises of a Public Issue of  [●]  Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 24.91% and 39.83%, respectively.

For the period ended March 31, 2017, FY 2016-15 and FY 2015-14, its revenue from operations was Rs. 5,034.85  Millions, Rs. 4,030.51 Millions and Rs. 3,040.96 Millions, respectively representing growth of  24.91% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-15 and FY 2015-14 our net profit was Rs. 194.26  Millions, Rs.138.92 Millions and Rs. 242.58 Millions, respectively, representing a growth of  39.83 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-16 the Other Income of our company increased to Rs. 68.35  Millions as against Rs.54.06 Millions for the financial year 2016-15, representing increase by 26.4% due to increase in interest income & insurance claim in FY 2017- 16.
  • Company’s Net Profit after tax for the year 2016-17 is Rs.102.41 Millions from the year 2015-16 of Rs. 58.87 Millions showing an increase of 73.95% from last year, showing remarkable performance.

The Promoters of this company are SAYAJI HOTELS LIMITED, SAYAJI HOUSE KEEPING SERVICES LIMITED, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. The lead manager to the issue are IIFL Holdings Limited  , Edelweiss Financial Services Limited , Jefferies India Private Limited and SBI Capital Markets Limited and the Registrar to this issue is Link Intime India Private Limited .


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Barbeque Nation Hospitality IPO Date

The opening and the closing date of IPO of Barbeque Nation Hospitality is not known yet.


Barbeque Nation Hospitality IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1   
Day 2    
Day 3    
Day 4    
Day 5    

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Barbeque Nation Hospitality IPO Allotment Status

Allotment of the Equity Shares pursuant to the Fresh Issue and transfer of the Equity Shares offered by the Selling Shareholders pursuant to the Offer for Sale to the successful Bidders.


Barbeque Nation Hospitality IPO Price Band

The issue price is Rs 10.

Barbeque Nation Hospitality IPO Equity Share Offering

[●] Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


Barbeque Nation Hospitality – Company Overview

Barbeque Nation Hospitality own and operate Barbeque Nation Restaurants, one of India’s leading casual dining restaurant chains according to the Technopak Report. The first Barbeque Nation Restaurant was launched in 2005 by Sayaji Hotels, one of the company’s promoters. Five Barbeque Nation Restaurants owned by Sayaji Hotels were transferred to them in 2012. The Company has steadily grown their owned and operated Barbeque Nation Restaurant network from a single restaurant in Fiscal 2007 to 81 Barbeque Nation Restaurants in 42 cities in India (including one currently under renovation) and one restaurant in Dubai as of June 30, 2017. 

The Company number of covers, revenues and EBITDA has grown consistently as our Barbeque Nation Restaurants have matured, particularly after being in operation for more than two years. For example, their number of covers have grown from 2.98 million in Fiscal 2013 to 6.86 million in Fiscal 2017 at a CAGR of 23.20%. As of June 30, 2017, 34 out of 81 Barbeque Nation Restaurants owned and operated by the company (excluding relocated restaurants) in India were less than two years old. The Company believe this puts them in a strong position going forward to monetise the benefits of their expansion in the past few Fiscals

The Company is promoted by SHL, SHKSL, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Barbeque Nation Hospitality :

  • One of India’s fastest growing and widely recognised restaurant brands in the rapidly growing CDR segment
  • Steady growth in covers and APC leading to growth in average bill size with a relatively high proportion of total revenues from weekday sales and lunch covers
  • Attractive offering at competitive prices based on constant menu innovation and customer focus
  • Strong business processes and back-end systems leading to efficient operations
  • Healthy financial position with proven track record of revenue growth and profitability

Business strategies of Barbeque Nation Hospitality :

  • Preserve our guest and team-focussed culture and values
  • Increase same store sales growth, revenue per store and profitability as the vintage of  Barbeque Nation Restaurants increases .
  • Continue expansion in new Indian cities including untapped Metro, Tier-I and select Tier-II and Tier-III cities
  • Expansion through owned & franchise formats in select international markets
  • Expand the Johnny Rockets franchise to other Indian cities

Barbeque Nation Hospitality – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Millions)
31-Mar-1731-Mar-1631-Mar-15
Total Assets2,956.152,367.331,826.48
Total Revenue5,034.854,030.513,040.96
Total Expense4,365.973,541.512,565.98
Profit After Tax102.4158.87134.88

Earnings per Equity Share (in Millions)

31-Mar-1731-Mar-1631-Mar-15
Basic 3.802.215.40
Diluted3.802.215.08

From the above statements, one could find that the Barbeque Nation Hospitality may perform well.


Barbeque Nation Hospitality IPO – Promoters

The Promoter of this company are:

  1. SHL,
  2. SHKSL,
  3. Kayum Dhanani,
  4. Raoof Dhanani and
  5. Suchitra Dhanani

List of Related Parties (Key Managerial Personnel)

  • Sayaji Hotels Limited
  • Sara Soule Private Limited

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Barbeque Nation Hospitality IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to [●] Equity Shares aggregating up to Rs. [●] million
 Of which:
Fresh Issue
[●] Equity Shares aggregating up to Rs. 2,000 million
Offer for SaleOf up to 6,179,000 Equity Shares aggregating up to Rs. [●] million
 Reserved for Market Makers
Employee Reservation Portion
Up to 150,000 Equity Shares aggregating up to Rs. [●] million
 Net Issue to the Public [●] Equity Shares
 Of which:
 Retail Investors Portion Not less than [●] Equity Shares
 Non-Retail Investors PortionNot less than [●] Equity Shares
 Equity Shares outstanding prior to the Issue27,024,014 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Barbeque Nation Hospitality IPO Issue Object

These are the IPO Issue Objects of the company

  • Setting-up of new Barbeque Nation restaurants in India;
  • Repayment or prepayment of loans of our Company and Subsidiaries;
  • General corporate purposes (collectively, referred to herein as the “Objects”)

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Barbeque Nation Hospitality IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • One of India’s fastest growing and widely recognised restaurant brands in the rapidly growing CDR segment.
  • Steady growth in covers and APC leading to growth in average bill size with a relatively high proportion of total revenues from weekday sales and lunch covers.
  • Attractive offering at competitive prices based on constant menu innovation and customer focus.
  • Strong business processes and back-end systems leading to efficient operations.
  • Experienced staff and value-oriented business culture led by some of their Promoters and their senior management team bringing experience from well-known hospitality brands.
  • Healthy financial position with proven track record of revenue growth and profitability.

The relevant quantitative factors are:

Basic  EPSDiluted EPSRONW (%)NAV (Rs.)
31-Mar-155.805.0811.25
31-Mar-162.212.214.77
31-Mar-173.803.807.0154.04
  • Industry P/E Ratio:
ParticularsP/E ratio
Average126.13
Highest126.13
Lowest126.13
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Jubilant Food Works Limited108.77126.137.17122.11
Speciality Restaurants Limited10-5.62-9.5159.09
Westlife Development Limited2-0.78-2.3033.91

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Barbeque Nation Hospitality IPO Lead Managers

Lead Managers
IIFL Holdings Limited
10th Floor, IIFL Centre
Kamala City, Senapati Bapat Marg
Lower Parel (West), Mumbai 400 013
Maharashtra, India
Tel: +91 22 4646 4600
Fax: +91 22 2493 1073
E-mail:
Investor grievance email:

Website: www.iiflcap.com
Contact Person: Pranay Doshi
SEBI Registration No.:
INM000010940Edelweiss Financial Services
LimitedJefferies India Private Limited

Barbeque Nation Hospitality IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai – 400 083, India
Tel: +91 22 49186200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor – Deloitte Haskins & Sells, Chartered Accountants
  • Peer Review Auditor – Deloitte Haskins & Sells, Chartered Accountants
  • Bankers to the Company –  Axis Bnak limited, ICICI Bank limited, State Bank of India

Barbeque Nation Hospitality IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

Barbeque Nation Hospitality IPO Grey Market Premium

The Barbeque Nation Hospitality IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Barbeque Nation Hospitality IPO News

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