The allotment of shares for the causal dining restaurant chain Barbeque Nation Hospitality is likely to be finalised today. Investors can check their status on the issue's registrar Link Intime as well as BSE.
The Rs 453-crore IPO which was open for subscription between March 24 and 26, was subscribed 6 times. The shares are likely to list on the bourses on April 7.
The reserved portion for retail investors has been subscribed 13.13 times and qualified institutional buyers (QIBs) 5.11 times. Meanwhile, non-institutional investors submitted the bid for 3.1 times of its reserved portion and the employees' part was bid 1.02 times. The company has reserved shares worth Rs 2 crore for its employees.
Here's how you can check the allotment status:
Through the website of registrar - Linkintime
1) Visit the website: https://www.linkintime.co.in/IPO/public-issues.html
2) Select IPO name from the dropdown
3) Enter Application Number or DP ID/Client ID or PAN
4) In case of application number, select application type (ASBA or NON-ASBA) and 'Enter Application Number'. In the case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".
5) Enter 'Captcha' and submit
On BSE:
1) Visit the website: https://www.bseindia.com/investors/appli_check.aspx.
2) Select ‘Equity’ and then from the dropdown, select issue name—"Barbeque Nation Hospitality"
3) Enter your Application Number and PAN Card number
4) Click on the "Search" button
The status will only appear if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.
The issue size for the IPO was reduced to 49.99 lakh equity shares from 90.71 lakh equity shares after the company raised Rs 203 crore from 15 anchor investors on March 23 ahead of the issue opening.
Finally, the IPO comprised a fresh issue of equity shares aggregating up to Rs 180 crore and an offer for sale of up to 54.5 lakh equity shares by existing selling shareholders.
The company will utilise the net proceeds from the issue for expansion and opening of new restaurants, prepayment or repayment of all or a portion of certain outstanding borrowings and general corporate purposes.
However, most brokerages were not very bullish on the issue due to consistent losses in previous years and also the impact of COVID-19 on the dine-in business. However, the company has shown a smart recovery of 84 percent of pre-COVID levels with an improving business outlook.
Still, they believe the long-term growth story for the company is intact but they are not confident about the listing.
(Edited by : Pranati Deva)
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