Proceeds of the issue will be utilised to repay an outstanding borrowing of Rs 205 crore in part or full and for general corporate purposes.
The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by private equity firm CX Partners, which made its first investment in 2013 and again in 2015.
The promoters hold 60.24 per cent, CX Partners owns 33.28 per cent and renowned stock market investor Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent in the company.
According to market sources, the IPO size will approximately be between Rs 1,000-1,200 crore.
The issue is being managed by IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets.
In 2017, the company had filed IPO papers with Sebi seeking to raise Rs 700 crore. However, the regulator kept the processing of the company's proposed IPO in abeyance "pending regulatory action for past violations" and finally approved the IPO plan in January 2018.
Although, the company could not launch the initial share-sale due to averse market conditions.
Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants, currently operating at 138 outlets across India and 7 outlets in the UAE, Oman and Malaysia.