Barbeque Nation Hospitality Float an IPO of 700 cr

Barbeque Nation Hospitality Ltd which owns and runs a chain of casual dining restaurants throughout India under the Barbeque-Nation brand name, has received markets regulator’s nod to raise an estimated Rs. 700 crore through initial public offering (IPO).

The IPO comprises fresh issue of shares worth Rs. 200 crore and an offer for sale of up to 61,79,000 equity shares, as per the DRHP, filed by the company. The offer consists of a reservation of upto 1.5 lakh equity shares for the company’s employees.

Barbeque Nation Hospitality has signed IIFL Holdings, Jefferies India, Edelweiss Financial Services and SBI Capital Markets for the book running lead managers to the issue. 

With the IPO markets picking up momentum after an engaging year 2017 for IPOs, the markets are set to salute big IPOs of companies including Reliance General Insurance Company, Hindustan Aeronautics Limited, IRCTC, Barbeque Nation Hospitality and HG Infra Engineering among others.   

L&T Construction bags orders worth Rs 1,310 crore:

Larsen & Toubro Limited (L&T), one of the largest and most reputed engineering companies in India, on Monday said, its construction arm L&T Construction has obtained orders worth Rs 1,310 cr, across various business segments.

The total order consist of Rs. 631 crore for the Water & Effluent Treatment biz, order for Power Transmission & Distribution biz  worth Rs 339 crore and for Buildings & Factories biz  worth Rs 340 crore, totaling 1310 crore.

The company has also bagged an order from BESCOM (Bangalore Electricity Supply Company) to convert the overhead conductor sys to an underground cabling sys to achieve reliable and un-interrupted power supply with enhanced voltage profile, in a sub-division of Bengaluru Metropolitan Area Zone.

Shares of Larsen & Toubro Limited were trading up by 0.03% at 1,329.60 on NSE post lunch hours, today.

TCL completes sale of urea biz to Yara Fertilizers

Tata Chemicals Limited (TCL) has completed the sale of its urea and customized fertilizers business to Yara Fertilizers India Pvt Limited for Rs 2,682 crore. The company said in a BSE filing that sale and transfer of the business between the companies secured the final approval of the National Company Law Tribunal (NCLT).

TCL has received the consideration of Rs 2,682 crore, subject to post completion working capital adjustments from Yara Fertilizers on January 12, 2018, it said.

TCL’s profit after tax (PAT) increased by over 80% to Rs. 156.35 crore in the Q2 FY18 as against Rs. 86.52 crore in the Q2 FY17. The company had posted a 5.76% drop in it PAT to Rs. 557.88 crore in the fiscal year 2017 on a yearly basis.

Meantime, shares of Tata Chemicals Limited closed at Rs. 764.25, down by Rs. 6.75 or 0.88 on the NSE, Friday.