Barbeque Nation shares erase early losses; close 18% higher in debut trade
On the NSE also, Barbeque Nation listed with a discount of 2.03% at Rs 489.85. Later, it rose to Rs 587.80, closing with a gain of 17.56% from the issue price
New Delhi: Shares of Barbeque Nation Hospitality on April 7 listed at a discount of 2% against its issue price of Rs 500, but later bounced back and closed the day with a jump of 18%. The stock debuted at Rs 492, a discount of 1.6% from the issue price on the BSE. But, as the trade progressed it recovered the lost ground and jumped 18.08% to close at Rs 590.40—its highest trading permissible limit.
On the NSE also, it listed with a discount of 2.03% at Rs 489.85. Later, it rose to Rs 587.80, closing with a gain of 17.56% from the issue price.
In traded volume terms, 8.98 lakh shares were traded at the BSE and over 54.27 lakh units at the NSE during the day. The company’s market valuation was at Rs 2,216.53 crore on the BSE. The initial public offer of the casual dining chain was subscribed 5.98 times last month. The price range for the offer was Rs 498-500 per share.
Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital.
Barbeque Nation Hospitality owns and operates Barbeque Nation Restaurants.
Download Money9 App for the latest updates on Personal Finance.
