Barbeque Nation IPO (Listing Date Price Band Allotment)

Barbeque Nation IPO : Below is the Review of Barbeque Nation IPO (Also Barbeque Nation Share Price, IPO Allotment Date, DRHP Price Band etc). Barbeque Nation looks to raise around Rs.750 Crore ($12 million dollars) through this IPO. Barbeque Nation is an Indian restaurant chain owned by Indore-based Sayaji Hotels Limited. The first restaurant opened in Mumbai in January 2006.  The IPO from Barbeque Nation is one of the many companies going for a Public Issue in the coming months, along with Vaishali Pharma and also Majestic Research IPO. Below are the details of Barbeque Nation IPO such as Share Issue Price, Minimum Order Quantiry, the Draft Prospectus etc.

Issue Details : Barbeque Nation IPO

Listing Date Late December
DRHP Download
Issue Price Rs. 80-90
Issue Capital Rs.750 Crore

Employee Stock Options : Barbeque Nation IPO

In the annual general meeting held on August 26, 2015, the shareholders of Barbeque Nation had approved the issue of not more than 266,240 options under the Scheme titled “ Employee Stock Option Scheme 2015 (ESOP 2015). The ESOP 2015 allows the issue of options to employees of the Company and its subsidiaries.

Each option comprised of equity share of face value Rs. 10/-. Pursuant to the split of equity share of Rs. 10 each into 2 equity shares of Rs. 5 each during the current year, ESOP 2015 was further amended and approved by the shareholders in Barbeque Nation meeting on June 30, 2017 wherein the maximum options under the ESOP 2015 was doubled to 532,480 options, wherein the option holder is entitled to 1 equity share of Rs. 5/- each for every option held.

As per the Scheme, the Remuneration committee grants the options to the employees deemed eligible. The exercise price of each option shall be at a price not less than the face value per share. Vesting period of the option is three years from the date of grant and all the vested options can be exercised by the option grantee within six months from the vesting date or at the time of liquidity event, as approved by the Board of Barbeque Nation, whichever is later.

On April 1, 2016, the Barbeque Nation granted options under said scheme for eligible personnel. The fair market value of the option has been determined using Black Scholes Option Pricing Model. Barbeque Nation has amortised the fair value of option after applying an estimated forfeiture rate over the vesting period.

Dividend Payments : Barbeque Nation IPO

The directors propose that a dividend of Re.1 per share be paid for equity shareholders out of profit for the year ended March 31, 2017. This equity dividend is subject to approval by shareholders at the Annual General Meeting.

Pursuant to the notification of Companies (Accounting Standards) Amendment Rules, 2016, which are applicable to the Company with effect from April 1, 2016, dividend declared after the balance sheet date but before the financial statements are approved for issue, is not to be recognised as a liability at the balance sheet date, but should be disclosed in the notes to the financial statements.

Accordingly, this dividend for the current year has not been included as a liability in these financial statements. The total estimated equity dividend to be paid is Rs. 27.02 Million. The payment of this dividend is estimated to result in payment of dividend distribution tax of Rs. 5.50 Million @ 20.36% on the amount of dividends payable.

Conclusion : Barbeque Nation IPO

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