Barbeque Nation Hospitality Limited IPO Message Board (Page 16)

The company has benefited from strong processes and systems that have established over the past 14 years of the Company’s operation. Due to the impact of COVID-19, their restaurants were temporarily closed from the third week of March 2020 and therefore the rent to revenue ratio for the 8 months period ended November 30, 2020 was not comparable.

They made losses in FY 19 and FY 20. These were not covid period

It is business model is very good. whenever you will go there to eat, you will never see this restaurant empty. It is always full of crowd.

not sure about their margin but as per @PSR, when it will start generating profit, its price will be sky rocketing.

It was past and for future purchase shares after listing .Tour and hotel business are badly affected, avoid

When the breakeven will happen before price starts shooting like rocket?

BBQ is 850 crs top line business. Peers like Jubilant is at 8 times EV Sales, Burger King is at 7 times EV Sales. At current value of IPO BBQ is at 2 times EV sales assuming IPO value at 1700 crs

But where is profit. You can always buy sales but difficult to ensure margin on that sales
So the model of high sales is questionable?

Easy Trip Planners Pvt Ltd
194.95 INR
−13.50 (6.48%)
22 Mar, 3:30 pm IST

Rakesh jee is not a god . People blindly apply in shares which they and there company purchases.they are giants there purchase in crores and even more than that. Simple rule dont follow any one. Before making any investment only criteria which needs to be follow is proper analysis of balance sheets.and future of company.

I read review of this ipo by expert and found that it is highly risky ipo and must be avoided . Do not think for it at the cost of Junjunwala @2% investment . God save all in EasyTrip but knowingly due not jump in this hotel ipo .

BBQ has very healthy operating margins of 20% better than many QSR players.

Easy Trip trading now almost at ipo price. Primary market sentiment reflecting secondary market condition. In such scenario, valuation and fundamental will definitely come into question.

Valuation is too high. They r encashing name of RJ to rob investors.
Please dont subscribe. U will get this share below 300 in 6 months.

Mr.. ipobullI.

Difinitely I am going to apply, and there is no going back.

After seeing all these negative comments, I decided to increase my allocation to the shares of this company by 25%..

I am not wooried about the outcome, and I am prepared for write off, if warranted, but I will never book loss in this script.

@vibhor Rajput
But where is profit. You can always buy sales but difficult to ensure margin on that sales
So the model of high sales is questionable?

Once i seen this restaurant very hi fi rates.very low vegetarian customer. Same food available in market at 20 percent rates in jaipur. Results in shutting down its operations with in 6 months of opening. Huge debt not a burger king or mcdonalds type franchise business model. A big avoid if easy trip gave no or very less listing gain.then this should be a clear cut avoid.

Read my message 792, 797.1 for MTAR. One can keep their fingers licking, but now MTAR cannot go down below 1000. You have opportunity in Easy Trip. It is consolidating at 202 before it flies to around 250 levels.

My dear Cautious, I did not get Easy trip allotment. I purchased from secondary market @ 200. Now it is at 205 and will not easily go below 200.

My dear StockPro, check cmp of mtar, it is 1006 and not below 1000. So, laugh at yourself.

pl check twitter handle of aditya knodwar, copied from him

One more - the Capital Structure

We see BBQ has been continuously raising capital one after the other and that tells us a lot

They need to keep raising cash, investing/burning it to stay relevant and clock growth
Image
PL NOTE THE ALL ABOVE MESSAGE COPIED FROM FOLLOWING SOURCE

In farzi valuation wali company me kabi apply mat karo inko 1 × b subscribe na kare taki inko pata lage ki share ki fare value kya ho investors k liye b premium ho sara maal khud lena chahti h esi companies or hmko loss dekar
#bbq #kalyan #craftsman

Concerns continued (images attached)

- Income Tax Raid (please read RHP to know more details, can''t summarize it as its legal language)
- Pledge (quite small but still) with RBL Bank
- Geographical concentration
- Red Apple acquisition wherein lender has not provided consent

Concerns continued (images attached)

- SHL and Directors engaged in a similar line of business
- Criminal proceeding against a Promoter and Directors, Raoof Dhanani (Matter pending currently)
- Johnny rockets closure
- In Aug 2017 company couldn''t meet the criteria to list

- High contingent liabilities
- National Anti-Profiteering Authority (GST) Notice
- SEBI Proceedings in relation to certain non-compliances under securities-related laws.

PO Details - 453 Cr

OFS - 273 Cr
Fresh issue - 180 Cr

Fresh Issue Proceeds use -

55 cr CAPEX for new restaurants (20 new in Fiscal 2022 and 6 in Fiscal 2023) + 75 cr repayment of loans

Cost of a new restaurant - 2.1 Cr

Also given burger king cost - 2.7 Cr (interesting)

Owned + operated Barbeque Nation Restaurant network

from a single restaurant in 2008 to 147 Restaurants as of Dec 31, 2020

Weekdays Lower Pricing, Weekends Higher Pricing

Veg/Non-Veg Differential Pricing

Unlimited Food Buffet with Food festivals sometimes

There is no meening of large discussion . Please read review of Smart investment magazine ,most neutral and always positive for all IPO but this time the IPO avoid

CBI raids top 3 SEBI officials residence and offices in mumbai

They were getting ipo allotment of retailers cota and getting commission in keeping ipo price hefty seems ???

Good news.