Barbeque Nation files for Rs 1,000-crore IPO to whittle away debt

The company's consolidated debt is pegged at Rs 225 crore

Indian casual dining chain Barbeque Nation Hospitality has filed for an initial public offering (IPO). The Bengaluru-based firm, which operates 138 outlets across 78 cities in India, is estimated to raise Rs 1,000 to Rs 1,250 crore through the IPO.

Promoted by Chennai’s Sayaji Housekeeping Services (SHKSL) and private equity firm CX Partners, Barbeque Nation will offer up to 9.82 million equity shares, including fresh share issues worth Rs 275 crore, the firm declared in its draft red herring prospectus. While up to 50 per cent of the shares will be available for allocation to qualified institutional investors, 35 per cent