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The Silicon Review Asia

IPO of Barbeque Nation Hospitality is open for subscription today: Analysts are uncertain about the investment plans

IPO of Barbeque Nation Hospitality is open for subscription today: Analysts are uncertain about the investment plans

Recently it was announced by Barbeque Nation Hospitality that bidding for IPO will begin on the 24th of March. This will be the last IPO of the financial year 2020-2021. Many brokerages are advising people to avoid the issue because the F&B sector was hit due to the COVID breakout. The issue will be closed on the 26th of March, and it must be noted that the popular restaurant chain is planning to raise more than Rs 425 crore through its IPO. The shares are priced high at Rs 498-500 per share, and the company has so far raised Rs 202 crore from investors like Goldman Sachs, Eastspring Investments India, Nomura Funds, ICICI Prudential, UPS Group Trust, Kotak Mutual Fund, and Fidelity.

Through its pre-IPO placement, Barbeque Nation Hospitality had raised Rs 150 crore by each share for Rs 252. Pre-IPO share prices were priced at nearly half of the IPO issue price. The analysts are very concerned about the consistent loss incurred last year due to the pandemic. The company has now recovered significantly, and it is speculated that it will achieve long-term growth. Angel Broking has stated that the pandemic's adverse effect has put the profits under immense pressure even though the company's operations are still intact.

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