Latest News | BIZ-STOCKS-BARBEQUE NATION Barbeque Nation Shares Make Tepid Debut; Surge Later
Get latest articles and stories on Latest News at LatestLY. 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.
New Delhi, Apr 7 (PTI) 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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)