The initial public offering (IPO) of Barbeque Nation has been subscribed 1.65 times by the morning of March 25, the second day of bidding. Investors have put in bids for 82.68 lakh equity shares against the offer size of 49.99 lakh equity shares, data available on exchanges show. The portion set aside for qualified institutional buyers has subscribed 37 percent and that of non-institutional investors 8 percent. Retail investors have put in bids 7.92 than their reserved portion and employees portion was booked 47 percent.

Barbeque Nation Hospitality operates one of India’s leading casual dining restaurant chains. The company owned 164 restaurants as on December 2020, which includes 147 Barbeque Nation Restaurants in 77 cities in India, six international restaurants in India and six outside India. The company also owns Italian restaurant brand Toscano with other two brands La Terrace and Collage. The company pioneered the over-the-table-barbeque concept.

Barbeque Nation Hospitality’s around 70 percent of the outlets are located in metros and remaining in Tier 2 and 3 cities. Jubilant Foodworks acquired a 10.76 percent stake in the chain in January 2021 at Rs 252 per share, with an investment of Rs 92 crore. The company is planning to raise around Rs 453 crore through the public issue, which comprises a fresh issue of Rs 180 crore and an offer for sale of Rs 273 crore by existing selling shareholders. The company has already raised Rs 203 crore from anchor investors on March 23 at the higher end of Rs 498-500 price band. The issue closes March 26.