InvestorQ : What has been the first day subscription response to the Barbeque Nation IPO?
Anamika Sodhani made post

What has been the first day subscription response to the Barbeque Nation IPO?

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Angel dcosta answered.
2 weeks ago
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Despite the markets showing a very tepid performance and the Sensex correcting by over 870 points on Wednesday 24 March, the opening day of the Barbeque Nation IPO was relatively satisfactory. In fact, the Rs.453 crore IPO of Barbeque Nation was oversubscribed 1.33 times on the first day itself.

Barbeque Nation received unique bids for a total of 49.99 lakh shares of which 42.87 lakh bids were at the cut-off price. Most of the action was in the retail segment with that particular segment getting subscribed 3.48 times. Clearly, there appears to be a good deal of retail interest in recognizable retail brands in India. However, it must be remembered that the retail allocation in the Barbeque Nation IPO is just 10% while QIBs have 75%.

This is too early to test the overall response because normally the HNI portion and the QIB portion get filled up only on the last day, more so if there is a good deal of funded participation from HNIs. Barbeque Nation had fixed the price band of the IPO at Rs.498-500 per share, with anchor placement done at upper end. The IPO comprises of a fresh issue of Rs.180 crore and an offer for sale of Rs.273 crore. Minimum lot size for the IPO is 30 shares.

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