Rakesh Jhunjhunwala's Alchemy Capital has ruled against selling its stake in Barbeque Nation through an Offer available to be purchased (OFS) as the eatery network indeed plans to come up with an IPO to the world. In the subsequent addendum, recorded by Barbeque Nation with capital business sectors controller SEBI recently, the organization has managed the OFS size and reported that it has attempted a pre-IPO arrangement, decreasing the quantity of offers financial backers can offer through the IPO, when it hits Dalal Street. Barbeque Nation has been endeavoring to get listed on the bourses since 2017 however its arrangements have so far not fructified.
Rakesh Jhunjhunwala chooses to remain contributed.
Prior, before the Covid pandemic, Barbeque Nation had intended to raise Rs 275 crore through a new issue of value shares while existing financial backers were selling 98,22,947 value shares. In the addendum documented with SEBI, Barbeque Nation presently plans to raise Rs 180 crore through the new issue and existing investors are hoping to sell only 54,57,470 value shares. Kayum Dhanani, Zoya Dhanani, Pace Private Limited and Alchemy India Long Term Fund Limited have chosen to pull out as selling investors from the offer. Advertiser SHKSL has chosen to build the quantity of value partakes in the proposal available to be purchased. Rakesh Jhunjhunwala's Alchemy Capital had before wanted to sell 3 lakh value shares.