Barbeque Nation Hospitality shares rise 20% after weak stock market debut

The shares of the casual dining restaurant chain listed on the National Stock Exchange at Rs 489.85 — a 2.03 per cent discount on its issue price of Rs 500. Soon after, the stock surged over 20 per cent. Here is all you need to know:

Shares of Barbeque Nation Hospitality surged 20 per cent on the stock market after listing at a discount of 2 per cent on its issue price on Wednesday. This development came as a surprise to many investors and analysts as the shares of the company were trading weaker on the grey market a day before the listing. The shares of the casual dining restaurant chain listed on the National Stock Exchange at Rs 489.85 — a 2.03 per cent discount on its issue price of Rs 500. However, the stock surged 20 per cent to Rs 587.80 on the NSE at around 10:40 am. At least 53.14 lakh shares of the dining chain changed hands on the NSE. Meanwhile, the stock made its debut at Rs 492 on the BSE, down 1.6 per cent. It surged 20 per cent to Rs 590.94 at around 10:40 am.