NEW DELHI: Barbeque Nation Hospitality saw a weak listing on Wednesday, as the shares got listed at Rs 489.85 on NSE, a 2.03 per cent discount to its issue price of Rs 500. On BSE, the stock opened at Rs 492, down 1.6 per cent. The listing ceremony took place at NSE at 9:15 am earlier in the day.
Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants, casual dining restaurant chains and International Barbeque Nation Restaurants. It also owns and operates Toscano Restaurants and You and Barbeque.
The recent market volatility had hit the grey market premium (GMP) of Barbeque Nation shares. Dealers active in the grey market, or the unofficial market for trading in unlisted shares, said the premium on the stock has fallen to Rs 10-12 from Rs 40 just a week back. That means the shares were trading in the Rs 510-512 range.
UPDATED: April 7, 2021 12:05 IST
Barbeque National Hospitality shares rose sharply on the stock market after a weak debut. (Photo: Twitter/@BarbequeNation)
Shares of Barbeque Nation Hospitality surged 20 per cent on the stock market after listing at a discount of 2 per cent on its issue price on Wednesday. This development came as a surprise to many investors and analysts as the shares of the company were trading weaker on the grey market a day before the listing.
The shares of the casual dining restaurant chain listed on the National Stock Exchange at Rs 489.85 a 2.03 per cent discount on its issue price of Rs 500. However, the stock surged 20 per cent to Rs 587.80 on the NSE at around 10:40 am. At least 53.14 lakh shares of the dining chain changed hands on the NSE.
BENGALURU (Reuters) - Shares of Barbeque-Nation Hospitality fell 2% in their market debut on Wednesday, after the casual dining restaurant chain raised about 4.53 billion rupees ($61.62 million) through an initial public offering (IPO). Fundraising via IPOs is at a 13-year high in India due to a flood of overseas investment and as unusual interest from mom-and-pop investors spur more listings, making India one of the hottest IPO markets in 2021. Barbeque-Nation s shares opened at 489.85 rupees per share, below the offer price of 500 rupees. (Reporting by Chandini Monnappa, Anuron Kumar Mitra and Rama Venkat in Bengaluru, Editing by Sherry Jacob-Phillips)
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Barbeque Nation Hospitality shares will be listed on the exchanges this morning
The domestic stock markets are likely to open in the green, going by early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 37-points gain. At 7:30 am, the Nifty futures were trading at 14,782, higher by 37 points or 0.28 per cent, on the Singapore Stock Exchange.
On Tuesday, the Sensex closed with a nominal gain of 42 points and the Nifty settled higher by 46 points.
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Barbeque Nation Hospitality bounced back after making a tepid stock market debut.
Shares of casual dining chain operator Barbeque Nation Hospitality bounced back after making a tepid stock market debut. Barbeque Nation Hospitality shares opened for trading at Rs 492 on the BSE and at Rs 489 on the National Stock Exchange against its issue price of Rs 500 per share. However, the shares rebounded soon after opening and rose as much as 18 per cent to hit an intraday high of Rs 590 on the BSE and climbed as much as 17.56 per cent to Rs 587.80 on the National Stock Exchange.
Barbeque Nation Hospitality s Rs 453-crore IPO was subscribed 5.98 times, according to data available on the stock exchanges. The public issue received bids for 2,99,01,510 shares against 49,99,609 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 5.11 times, non-institutional investors 3.10 times and retail individual investors, 13.13 times.