NEW DELHI: Investors who bid for Rakesh Jhunjhunwala-backed Barbeque Nation’s shares during the book-building process of the IPO may be left with a bitter taste, as the grey market premium on the unlisted shares has plunged sharply as uncertainties in global markets has shaken confidence on Dalal Street.
Dealers active in the grey market, or the unofficial market for unlisted shares, said the premium on the stock has fallen to Rs 10-12 from Rs 40 a week back. That means the scrip is trading in the Rs 510-512 range.
“We are expecting a weak listing. Because of a spike in Covid cases, we are seeing lockdown fears. Mumbai has already gone under that,” said Dinesh Gupta, Founder of UnlistedZone, a platform that facilitates trading in unlisted shares.