Barbeque Nation Hospitality IPO Oversubscribed On First Day

Barbeque Nation Hospitality shares were in heavy demand among the retail investors as portion reserved for them was subscribed 3.48 times.

Barbeque Nation Hospitality's Rs 452.87 crore initial public offer (IPO) was oversubscribed on the first day of the issue. Barbeque Nation Hospitality's share sale via IPO was subscribed 1.33 times till 5:00 pm on the first day of the issue, data from the National Stock Exchange showed. Barbeque Nation Hospitality received a total of 66.46 lakh bids for 49.99 lakh shares on the offer.A total of 42.87 lakh bids were received at the cut-off price, the data showed. Barbeque Nation Hospitality shares were in heavy demand among the retail investors as portion reserved for them was subscribed 3.48 times while the portion reserved for Qualified Institutional Buyers (QIBs) and Non Institutional Investors saw tepid response by the end of the first day of the bidding. Barbeque Nation Hospitality has fixed the price band of the offer at Rs 498 - Rs 500 per share. The IPO comprises of a fresh issue of Rs 180 crore and an offer for sale of up to 54,57,470 equity shares by existing selling shareholders. Investors can bid for a minimum one lot of 30 equity shares and in multiples of 30 thereafter, up to 13 lots.