Portions of easygoing feasting chain administrator Barbeque Nation Hospitality skiped back in the wake of making a lukewarm securities exchange debut. Grill Nation Hospitality shares opened for exchanging at ₹ 492 on the BSE and at ₹ 489 on the National Stock Exchange against its issue cost of ₹ 500 for each offer. In any case, the offers bounced back not long after opening and rose as much as 18% to hit an intraday high of ₹ 590 on the BSE and moved as much as 17.56 percent to ₹ 587.80 on the National Stock Exchange.
Grill Nation Hospitality's ₹ 453-crore IPO was bought in 5.98 occasions, as per information accessible on the stock trades. The public issue got offers for 2,99,01,510 offers against 49,99,609 offers on offer. The certified institutional purchasers (QIBs) classification was bought in 5.11 occasions, non-institutional financial backers 3.10 occasions and retail singular financial backers, 13.13 occasions.
The underlying public offer comprised of a new issue of ₹ 180 crore and a proposal available to be purchased of 54,57,470 value shares. In front of the public issue, the organization had raised ₹ 203 crore from anchor financial backers. Grill Nation will use the IPO continues to open new eateries, compensate extraordinary borrowings and for general corporate purposes. IIFL Securities, Axis Capital, Ambit Capital and SBI Capital Markets are the book running lead directors to the public issue of Barbeque Nation Hospitality.Barbeque Nation Hospitality was fused in the year 2006 and is one of the main easygoing eating café networks in the nation today. It is upheld by private value financial backer CX Partners and Rakesh Jhunjhunwala's venture firm Alchemy Capital.
As of 11:48 am, Barbeque Nation shares exchanged 20% higher at ₹ 590, beating the Sensex which was up 1.2 percent.