Barbeque Nation raises nearly Rs 100 cr via preferential issue of shares

The company's stakeholder in its meeting approved an allotment of 11,77,855 fully paid-up equity shares of a face value of Rs 5 each at a premium of Rs 844 by preferential allotment

Restaurants chain Barbeque Nation Hospitality Ltd on Saturday said it has raised nearly Rs 100 crore through preferential issue of equity shares to three different investors, including Massachusetts Institute of Technology.

The company's stakeholders' relationship committee in its meeting on Saturday approved an allotment of 11,77,855 fully paid-up equity shares of a face value of Rs 5 each at a premium of Rs 844 by preferential allotment, the company said in a regulatory filing.

It has allotted 7,06,713 equity shares to Massachusetts Institute of Technology for an aggregate subscription amount of Rs 59,99,99,337.

On the other hand, 1,76,678 equity shares have been allotted to 238 Plan Associates LLC for an aggregate subscription amount of Rs 14,99,99,622, the filing added.

Motilal Oswal Equity Opportunities Fund Series-II has been allotted 2,94,464 equity shares for an aggregate subscription amount of Rs 24,99,99,936, it said.

Consequent upon the above allotment, the paid-up share capital of the company has increased to Rs 19,37,16,375 from Rs 18,78,27,100, it said.