Barbeque nation was incubated in Sayaji Hotels (its listed parent), but it came up with IPO as partial subsidiary sale, with no benefits accumulating to Sayaji minority shareholders.
This creates doubt in my mind, if promoters have any intention of sharing wealth with minority shareholders, even if Barbeque nation is successful.
Even if one is bullish on Barbeque, despite promoter issues, why not invest in the parent that trades at considerable discount?
Disclosure – No Position.
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