Barbeque Nation shares soar 18% on debut, get locked in 20% upper circuit

Rally surprised Street as most were expecting subdued listing due to the fresh turbulence in restaurant sector caused by the lockdown imposed in Maharashtra to contain Covid-19 spread

Barbeque Nation Hospitality, a company operating casual dining restaurant chains, saw its shares gain 18 per cent during their stock market debut on Wednesday. The stock ended at Rs 587.8 with a gain of Rs 87.8 over the issue price of Rs 500 per share. The stock touched a low of Rs 481.85 and a high of Rs 587.8 on the NSE, where Rs 285 crore worth of shares changed hands. During the close of trade, the stock was locked in a 20 per cent upper circuit over its pre-open price of Rs 490.

The rally surprised the Street as