Public Market

Secondary Issues

Restaurant chain Barbeque Nation raises Rs.100-Cr via pref issue

MyBigPlunge  

Publicly listed restaurant chain Barbeque Nation Hospitality Ltd has raised nearly INR 100 crore through preferential issue of equity shares to three different investors, including Massachusetts Institute of Technology. The company's stakeholders' relationship committee approved an allotment of 11,77,855 fully paid-up equity shares of a face value of INR 5 each at a premium of INR 844 by preferential allotment. It has allotted 7,06,713 equity shares to Massachusetts Institute of Technology for an aggregate subscription amount of INR 59,99,99,337. A total of 1,76,678 equity shares have been allotted to 238 Plan Associates LLC for an aggregate subscription amount of INR 14,99,99,622. Motilal Oswal Equity Opportunities Fund Series-II has been allotted 2,94,464 equity shares for an aggregate subscription amount of INR 24,99,99,936. Post-allotment, the paid-up share capital of the company has increased to INR 19,37,16,375 from INR 18,78,27,100.