BENGALURU (Reuters) - Shares of Barbeque-Nation Hospitality fell 2% in their market debut on Wednesday, after the casual dining restaurant chain raised about 4.53 billion rupees ($61.62 million) through an initial public offering (IPO).
Fundraising via IPOs is at a 13-year high in India due to a flood of overseas investment and as unusual interest from mom-and-pop investors spur more listings, making India one of the hottest IPO markets in 2021.
Barbeque-Nation's shares opened at 489.85 rupees per share, below the offer price of 500 rupees.
(Reporting by Chandini Monnappa, Anuron Kumar Mitra and Rama Venkat in Bengaluru, Editing by Sherry Jacob-Phillips)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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