Barbeque Nation shares surge by 20% following weak market debut



News24

LAST UPDATED: April 8, 2021, 1 p.m.

New Delhi (Anish Yande): Barbeque Nation shares surged by 20% on Thursday. The shares of the casual dining chain are up by Rs 117.55, surging to Rs 705.35.  

The shares of Barbeque Nation have been listed at Rs 489.85, at a discount of 2 percent. Comparatively, the issue price was at Rs 500 per share. Barbeque Nation shares started trading at Rs 489 per share on the National Stock Exchange and Rs 492 per share on the BSE. 

Barbeque Nation shares surge by 20%:

The shares are locked in the 20 percent upper limit on the NSE. The shares opened at Rs 587.80 on Wednesday. Following the opening bell, 6.23 million equity shares had been exchanged and pending buy orders for 870,000 shares on the NSE and BSE.

Also Read: Barbeque Nation IPO share allotment today: How to check allotment status

Barbeque Nation shares reached an intraday high of Rs 590 on the BSE, at an increase of 18 percent. The shares of Barbeque Nation rose to Rs 587.80 on the National Stock Exchange, at an increase of 17.56 percent. 

Shares of Barbeque Nation were at a previous close of Rs 587.80 per share. The Barbeque Nation’s initial public offering was open for subscription from March 24-26, 2021.

Barbeque Nation IPO details:

The initial public offering of Barbeque Nation was subscribed 5.98 times. Barbeque Nation issue received bids for 2,99,01,510 shares as compared to the 49,99,609 shares. The portion reserved for qualified institutional buyers was subscribed 5.11 times and the issue reserved for non-institutional investors was subscribed 3.10 times. The quota reserved for retail individual investors was subscribed 13.13 times.

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The casual dining chain issue consisted of a fresh issue of shares of Rs 180 crore. The IPO consisted of an offer-for-sale up to 54,57,470 equity shares. 

The price band of the Barbeque Nation issue was fixed at Rs 498-500 per share at a face value of Rs 5 per share.

The book running lead managers to the public issue are Axis Capital, Ambit Capital, IIFL Securities, SBI Capital Markets. 

Image Credit: Google



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