The initial public offering (IPO) of Barbeque Nation Hospitality, a casual dining restaurant chain operator, opens for subscription today. The issue will close on March 26. The company is looking to raise about Rs 453 crore from the market.

Company has been generating healthy operating cash, said Rahul Agrawal, CEO of Barbeque Nation Hospitality, on Wednesday. Agrawal also said that the EBITDA margin has stayed above 20 percent over the last 4 years.

The company owns and operates Barbeque Nation Restaurants, one of India’s leading casual dining restaurant chains and International Barbeque Nation Restaurants.

Speaking in an interview to CNBC-TV18, Agrawal said, “We should not confuse ourselves with profit after tax and cash loss. We should look at operating cash and we have been generating very healthy operating cash. In FY20 we have generated operating cash of more than Rs 100 crore.”

“EBITDA margins have been healthy. We have done EBITDA margin upwards of 20 percent over last 4 years consistently and profit after tax is also a function of how balance sheet is, the depreciation rate was very high in our business because we have been expanding very fast,” he said.

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(Edited by : Aditi Gautam)