Shares of Barbeque-Nation Hospitality, on Thursday, were locked in 20 per cent upper circuit, for the second straight day, at Rs 708.45 on the BSE. With today’s rally, the stock has surged 47 per cent from its Wednesday’s low of Rs 481.35.
Currently, the stock was up 42 per cent against its issue price of Rs 500 per share after a weak market debut, yesterday. The stock of Barbeque Nation Hospitality, which owns and operates the popular chain of Barbeque Nation Restaurants, had opened at Rs 492, a 1.6 per cent discount against its issue price on the BSE.
Till 09:25 am, a combined 978,000 equity shares had changed hands and there were pending buy orders for 315,000 equity shares on the NSE and BSE.
New Delhi: Specialty restaurant chain Barbeque Nation Hospitality made a tepid debut on Dalal Street on Wednesday, listing at a 2 per cent discount. But the scrip has surged about 48 per cent post listing.
On Thursday, the stock hit the upper circuit, surging 20 per cent to Rs 708.45. It had hit the 20 per cent upper circuit on the day of listing as well. The scrip was listed at Rs 492 on BSE against the issue price of Rs 500.
Barbeque Nation Hospitality owns and operates casual dining restaurant chain Barbeque Nation Restaurants and International Barbeque Nation Restaurants. It also owns and operates Toscano Restaurants and You and Barbeque.
Barbeque-Nation Hospitality hit an upper circuit of 20% to Rs 708.45 after UTI Mutual Fund purchased 0.67% stake in the company via bulk deal on NSE yesterday.As per the bulk deal data on the NSE, UTI Flexi Cap Mutual Fund purchased 2,50,924 shares, or 0.67% stake in Barbeque-Nation Hospitality at an average price of Rs 579.62 per share.
Simulteneously, Integrated Core Strategies Asia sold 4,01,815 shares, 1.07% stake in the company at an average price of Rs 545.15 per share. Integrated Core Strategies Asia held 1.89% in the fast-food chain as on 5 April 2021.
Barbeque-Nation Hospitality was listed on the bourses on Wednesday (7 April 2021). The stock was listed at Rs 492, a discount of 1.60% to the IPO price of Rs 500. The IPO of Barbeque-Nation Hospitality was subscribed 5.98 times. The issue opened for bidding on 24 March 2021 and closed on 26 March 2021. The price band for the IPO was set at Rs 498-500 per share.
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.
Shares of Barbeque-Nation Hospitality staged a smart comeback after a weak market debut and were locked in the upper circuit of 20 per cent at Rs 590.40 on the BSE in Wednesday s session. The stock of Barbeque Nation Hospitality, which owns and operates the popular chain of Barbeque Nation Restaurants, had opened at Rs 492, 1.6 per cent lower against its issue price of Rs 500 per share on the BSE. On the National Stock Exchange (NSE), the stock was frozen in the 20 per cent limit at Rs 587.80, after opening at Rs 489.85. Till 11:21 am, a combined 6.23 million equity shares had changing hands on the counter, while there were pending buy orders for 870,000 shares on the NSE and BSE.