Barbeque Nation IPO listing tomorrow: What to expect? GMP falls, where to check share allotment status

The stock of casual-dining restaurant chain Barbeque Nation will list on BSE and NSE on April 7. The firm backed by ace investor Rakesh Jhunjhunwala has raised Rs 453 crore from initial public offering (IPO). The IPO was held from March 24 to March 26.  Allotment of shares was done on April 1, 2021.

The share of Barbeque Nation is likely to be listed at its IPO price. The grey market premium (GMP) for Barbeque Nation has slipped to Rs 10 from Rs 40 a week earlier, according to reports.

The fall in GMP of Barbeque Nation can be attributed to rising volatility in the equity market due to a surge in coronavirus cases in India. The price band of the IPO was fixed at Rs 498-500 per share. The share may also list at a discount to issue price considering the weak market conditions.

The allotment of shares for Barbeque Nation Hospitality was done on April 1.

Barbeque Nation IPO subscribed six times on final day; retail portion booked 13 times

Investors can check their allotment status on IPO registrar's website, the Link Intime India, as well as BSE. Here's how to check Barbeque Nation Hospitality IPO allotment status:

Go on Link Intime India's website, the registrar to the IPO Click on the drop-down menu and select the company name as Barbeque Nation Hospitality in the drop-down menu of the investor's centre section.

Enter your Permanent Account Numbers (PAN) or application number or Client ID.

After entering details, investors can click on submit button and view their allotment status.

On BSE    

Applicants can also check their IPO allotment status on the BSE website. Select Equity and then from the dropdown, select issue name- Barbeque Nation Hospitality. Enter your Permanent Account Numbers (PAN) or application number and click Search.

The IPO was subscribed 5.98 times on its last day on March 26. The issue received bids for 2.99 crore equity shares against the offer size of 49.99 lakh equity shares. Retail investors submitted bids 13.13 times the reserved portion, while that of non-institutional investors was subscribed 3.10 times.

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Employees portion was booked 1.02 times. The portion set aside for qualified institutional buyers witnessed a subscription of 5.11 times. The issue size was reduced to 49.99 lakh equity shares from 90.71 lakh equity shares after the company collected Rs 203 crore from anchor investors on March 23.

Shares of the firm could be bought in a minimum lot size of 30. To bid for one lot in the IPO, one would have to spend Rs 15,000. A retail investor could apply for up to 13 lots  or 390 shares by spending Rs 195,000.

The IPO comprised fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 54,57,470 equity shares aggregating up to Rs 272.87 crore. Equity shares aggregating up to Rs 2 crore were reserved for eligible employees.