Barbeque Nation Hospitality Ltd. announced preferential allotment of 1,177,855 equity shares at a price of INR 849 per share for gross proceeds of INR 999,998,895 on June 25, 2021. The transaction will include participation from new investors 238 Plan Associates LLC subscribing 176,678 shares for INR 149,999,622 representing 0.46% stake, Massachusetts Institute of Technology Investment Management Company subscribing 706,713 shares for INR 599,999,337 representing 1.83% stake, and Motilal Oswal Equity Opportunities Fund Series-II, a fund managed by Motilal Oswal Asset Management Company Limited subscribing 294,464 shares for INR 249,999,936 representing 0.76% stake. The shares will be issued at a premium of INR 844 per share to face value of INR 5 per share. The transaction has been approved by the board of directors of the company and is subject to approval of shareholders of the company at its extraordinary general meeting to be held on July 19, 2021. The transaction is subject to necessary permissions and approvals. The shares are subject to lock-in for a period of 1 year from the date of trading approval.