Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants, casual dining restaurant chains and International Barbeque Nation Restaurants. It also owns and operates Toscano Restaurants and You and Barbeque.
The recent market volatility had hit the grey market premium (GMP) of Barbeque Nation shares. Dealers active in the grey market, or the unofficial market for trading in unlisted shares, said the premium on the stock has fallen to Rs 10-12 from Rs 40 just a week back. That means the shares were trading in the Rs 510-512 range.
The initial public offering (IPO) of the casual dining chain was subscribed 5.98 times. The Rs 453 crore issue received bids for 2,99,01,510 shares against 49,99,609 shares on offer, NSE data showed. The quote reserved for qualified institutional buyers (QIBs) was subscribed 5.11 times, those for non institutional investors 3.10 times, and retail individual investors’ quota 13.13 times.
At the issue price, the company enjoyed a valuation of 2.4x FY20 EV/sales
Analysts said while the company posted revenue growth of 20 per cent CAGR between FY18-FY20 but it has been continuously incurring losses at PAT level despite top line growth.
As of December 31, 2020, Barbeque Nation Restaurant network has reached 147 restaurants across 77 cities in India and six International Barbeque Nation Restaurants in three countries outside India.
