Barbeque Nation shares make tepid debut; surge later
Shares of Barbeque Nation Hospitality on Wednesday listed at a discount of 2 per cent against its issue price of Rs 500, but later bounced back and jumped 18 per cent.The stock debuted at Rs 492, a discount of 1.6 per cent from the issue price on BSE.
- Country:
- India
Shares of Barbeque Nation Hospitality on Wednesday listed at a discount of 2 per cent against its issue price of Rs 500, but later bounced back and jumped 18 per cent.
The stock debuted at Rs 492, a discount of 1.6 per cent from the issue price on BSE. But, as the trade progressed it recovered the lost ground and jumped 18.08 per cent to Rs 590.40.
On NSE also, it listed with a discount of 2.03 per cent at Rs 489.85. Later, it rose to Rs 587.80, a gain of 17.56 per cent from the issue price.
The initial public offer of the casual dining chain was subscribed 5.98 times last month.
Price range for the offer was at 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.
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