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BARBEQUE NATION IPO Listing On April 7
Barbeque Nation IPO listing: The IPO of Barbeque Nation Hospitality will be listed on the NSE and BSE on April 7 (Wednesday). Barbeque Nation finalised the allotment of IPO last week. The grey market premium of the unlisted shares has plunged sharply, signaling weak listing. This will be the first IPO listing in the financial year 2021-22.Â
Barbeque Nation is a popular casual dining chain. Its IPO was subscribed 5.98 times. As per NSE data, the Rs 453-crore issue received bids for 2,99,01,510 shares against 49,99,609 shares on offer. While the category for qualified institutional buyers (QIBs) was subscribed 5.11 times, non-institutional investors 3.10 times, and retail individual investors (RIIs) 13.13 times.
Barbeque Nation Hospitality listing: Here’s what to expect
Barbeque Nation Hospitality listing: Here’s what to expect
Most analysts have also confirmed that they are expecting a weak stock market listing for Barbeque Nation Hospitality on Wednesday. Here is all you need to know:
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UPDATED: April 6, 2021 14:28 IST
The grey market premium on unlisted shares Barbeque Nation Hospitality has plunged sharply. (Photo: Twitter/@BarbequeNation)
The investors who have subscribed to Barbeque Nation Hospitality’s initial public offering (IPO) may be left disappointed when it lists on the stock market on Wednesday.
The grey market premium on unlisted shares of the casual dining restaurant chain has plunged sharply due to ongoing uncertainties and increased market volatility.
1.02 times
Barbeque Nation’s popularity comes with its eat all you want buffet offering, which has been a hit with families and youngsters alike.
As Barbeque Nation opens its doors to the public markets, there’s also the fear of another nationwide lockdown, while several cities are already subject to lockdown or night curfew. But Agrawal said that while there may be a short term disruption in business, their long term vision to grow in the Indian restaurant industry remains intact.
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“This will be the nature of the business going forward for at least a couple of quarters – different states will have different restrictions. In the short term, you would see business disruption. We believe that we have already gone through a strict lockdown in the past, and survived it and that will help us sail through this,” he said.
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.
India Business News: NEW DELHI: The initial public offering (IPO) share allocation of the casual dining chain Barbeque Nation Hospitality will be finalised on Thursday, Ap.