Barbeque-Nation Expands with New Sri Lanka Subsidiary

Barbeque-Nation Hospitality Limited, an Indian company, operates internationally through its wholly-owned Dubai-based subsidiary, Barbeque Nation MENA Holding Limited. This entity further owns a step-down subsidiary in Colombo, Sri Lanka, named Barbeque Nation Lanka (Pvt) Ltd. As a step-down subsidiary, Barbeque Nation Lanka (Pvt) Ltd qualifies as a related party to Barbeque-Nation Hospitality Limited under Section 2(76) of the Companies Act, 2013.

Incorporated on August 21, 2024, Barbeque Nation Lanka (Pvt) Ltd is authorized to operate restaurants, cafes, and bars. However, the company has not yet commenced its business operations. Barbeque Nation MENA Holding Limited has invested LKR 24,531,900 in the Sri Lankan subsidiary, which includes an initial subscription of LKR 100,000 to the Memorandum of Association (MOA). This investment secures full ownership of the 245,319 outstanding shares, each valued at LKR 100. The primary objective of this investment is to establish a restaurant and support the subsidiary’s operations. The Sri Lankan venture aligns closely with the core business activities of Barbeque-Nation Hospitality Limited.