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.
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.
Nifty Midcap 100 index rose 0.9 per cent and Nifty Smallcap 100 index rose 1.7 per cent.
The Indian equity benchmarks extended gains in noon deals led by gains in rate sensitive banking, auto and financial services shares after the Reserve Bank of India kept repo rate unchanged at 4 per cent and maintained its accommodative stance. The benchmarks opened higher and extended gains after RBI s monetary policy decision. The Sensex rose as much as 699 points and Nifty 50 index climbed above its important psychological level of 14,850.
As of 1:17 pm, the Sensex was up 668 points or 1.36 per cent to 49,867 and Nifty 50 index rose 190 points or 1.29 per cent to 14,873.
Mid- and small-cap shares witnessed strong buying interest.
The Indian equity benchmarks gained for second straight session on Wednesday on the back of buying interest in rate sensitive shares after the Reserve Bank of India held its key interest rates unchanged at record lows to support the economy against the backdrop of a second surge in COVID-19 cases. The Sensex rose as much as 699 points at the day s highest level and Nifty 50 index briefly moved above its important psychological level of 14,850. The Reserve Bank of India (RBI) stuck to its accommodative monetary policy stance amid concerns that rising infections could derail the country s nascent economic recovery.