InvestorQ : How was the listing performance of Barbeque Nation on 07 April, Wednesday?
Dilmini Mercia made post

How was the listing performance of Barbeque Nation on 07 April, Wednesday?

Answer
image
Dawn Cherian answered.
1 week ago
Follow

Barbeque Nation may have listed at a 2% discount at Rs.492 but closed at 20% upper circuit locked at Rs.590 on BSE. The issue price was Rs.500. While the subscription to the issue had been encouraging at 13X for retail investors and around 5X for institutions, it was nothing close to what many of the previous IPOs had received.

Markets were impressed with the application of funds by the company. Barbeque Nation will use IPO funds to expand its store presence across India and more importantly to cut down on debt in a significant way. CX Partners and Alchemy were among the early investors in Barbeque Nation. One concern is that the company is loss-making for last few years.

1 Views