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08-02-2022 03:41 PM | Source: Accord Fintech
Barbeque-Nation Hospitality gains on getting nod to further acquire stake in Red Apple Kitchen Consultancy
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Barbeque-Nation Hospitality is currently trading at Rs. 1219.25, up by 23.75 points or 1.99% from its previous closing of Rs. 1195.50 on the BSE.

The scrip opened at Rs. 1195.50 and has touched a high and low of Rs. 1269.55 and Rs. 1170.80 respectively. So far 65276 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1949.70 on 09-Nov-2021 and a 52 week low of Rs. 870.00 on 02-Aug-2021.

Last one week high and low of the scrip stood at Rs. 1269.55 and Rs. 1096.30 respectively. The current market cap of the company is Rs. 4747.94 crore.

The promoters holding in the company stood at 33.98%, while Institutions and Non-Institutions held 43.30% and 22.72% respectively.

Barbeque-Nation Hospitality has received approval for further acquisition of 414 Equity Shares constituting 6.34% Paid-up Share Capital, having face value of Rs 100 each, of Red Apple Kitchen Consultancy, a Subsidiary of the company, through secondary acquisition i.e., from the existing Shareholders of Toscano for a total consideration of Rs 7,65,90,000. The objective of acquisition intends to increase its stake in the subsidiary. The business of subsidiary is in line with the business of the company.

The company has also received approval for further acquisition of 153 Equity Shares constituting 51% of the Paid-up Share Capital, having face value of United Arab Emirates dirham 1,000 each, of Barbeque Nation Restaurant, a Step-down Subsidiary of the Company situated in United Arab Emirates (UAE), by Barbeque Nation MENA Holding, a Wholly Owned Subsidiary of the Company situated in UAE, from the existing Partner/Shareholder for a total consideration of United Arab Emirates dirham 1,53,000.

Barbeque-Nation Hospitality is one of the leading casual dining chains in India, the company pioneered the concept of 'over the table barbeque' live grills embedded in dining tables - allowing guests to grill their own barbecue’s right at their tables.