Barbeque Nation share price soars 20% to above Rs 700, hits upper circuit AGAIN

Barbeque Nation share price today is Rs 705.35, up 20% or Rs 117.55. Notably, Barbeque Nation share price got listed at 489.85, down 2%, to the issue of Rs 500. The stock witnessed good buying after getting listed and got locked at the upper circuit. The Rs 453 crore initial public offering of the popular dining chain was open for subscription from March 24-26, 2021. The offer was available in the price band of Rs 498-500 per equity share. Many Analysts said that some Big Domestic Funds and HNIs are expected to be the buyers in the counter. This consumer food focussed sector stock is surprising many analysts with the sharp upmove. The stock has moved from lows of Rs 480 yesterday to over Rs 700 today, 
 
Barbeque Nation owns and operates Barbeque Nation, one of India’s leading casual dining restaurant chains (in terms of number of outlets as on September 30, 2020) according to the Technopak Report and International Barbeque Nation Restaurants. The company has steadily grown, owned and operated the network of Barbeque Nation restaurants, starting from a single restaurant in 2008 to 147 restaurants across 77 cities in India and six International Barbeque Nation Restaurants in three countries outside India as on December 31, 2020. Around 71 restaurants have been added since April2017 (24 restaurants have been added since April 2019). 

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Barbeque Nation also owns and operates Toscano Restaurants and UBQ by Barbeque Nation restaurants. Toscano is an Italian cuisine brand with 11 restaurants across three cities in India (and contributes 6% of revenues), while UBQ by Barbeque Nation(launched in November 2018) predominantly caters to the delivery segment.