The company had on Tuesday raised Rs 202 crore from 15 anchor investors.
By ETMarkets.com | Updated:
Agencies
On the block are up to Rs 180 crore fresh shares and an offer for sale of up to 54,57,470 shares.
NEW DELHI: Barbeque Nation IPO attracted 1.33 times bids for its IPO on the first day of the bidding process on Wednesday, thanks to strong retail participation.
By 5:00 pm, the Rs 453 crore IPO had received bids for 66,46,830 shares, which was 1.3 times the 49,99,609 shares offered for public subscription. The retail quota was subscribed 9.62 times. The portions reserved for NIIs, employees and QIBs saw muted response.
The company had on Tuesday raised Rs 202 crore from 15 anchor investors by allotting 40,57,861 shares. The total size of the issue including the anchor portion stands at 90,71,927 shares.
7 stocks that analysts believe can deliver good returns in the near term
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Amid the heightened volatility in the market due to rising risks of bond yields and surge in Covid-19 cases, focus will remain on stock-specific action. Here are a few stocks that analysts believe can make good money for investors in the next few weeks:
Amid the heightened volatility in the market due to rising risks of bond yields and surge in Covid-19 cases, focus will remain on stock-specific action. Here are a few stocks that analysts believe ca..
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The stock witnessed a sharp upside bounce on Tuesday and closed higher. This pattern indicates an attempt of upside breakout after a down trend. The 10-week EMA is continuously offering support for the stock price. The recent upside bounce has occurred from near this support around Rs 225. Traders can buy Sequent Scientific at Rs 244.25, add more on dips down to Rs 235, wait for the upside target of Rs 270 in the next 3-4 weeks. Place a stop loss at Rs 228.
(Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC Securities)
The stock witnessed a sharp upside bounce on Tuesday and closed higher. This pattern indicates an attempt of upside breakout after a down trend. The 10-week EMA is continuously offering support for t..
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The paint stock has been moving in a larger consolidation pattern over the last few months, as per weekly time frame chart. The medium term uptrend is intact and we observe a larger degree of higher tops and bottoms. The 14-week RSI shows positive indications. Traders may consider buying Berger Paints at Rs 745.95, add more on dips down to Rs 715 and wait for the upside target of Rs 825 in the next 3-4 weeks. Place a stop loss at Rs 695.
(Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC Securities)
The paint stock has been moving in a larger consolidation pattern over the last few months, as per weekly time frame chart. The medium term uptrend is intact and we observe a larger degree of higher ..
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On the charts, the pattern of a classic higher highs and higher lows is intact. The moving averages on the daily time frame are sloped higher and this denote a strong uptrend. On the weekly time frame, the nearest resistance is around Rs 1,550, giving us a good reward to risk on the trade. Traders may buy Symphony at current levels for a rally towards Rs 1,550 and above that to Rs 1,650 over the next 6-8 weeks. Keep a stop loss below Rs 1,120.
(Analyst: Manish Shah, Trader, Researcher and Trading Coach, Niftytriggers.com)
On the charts, the pattern of a classic higher highs and higher lows is intact. The moving averages on the daily time frame are sloped higher and this denote a strong uptrend. On the weekly time fram..
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On the weekly charts, the stock is showing major signs of reversal which could mean a long term reversal in trend that could last for several months. On the daily time frame, we see prices in a range of Rs 340-300. This is a short term pause within an ongoing uptrend. The longer term moving averages show a rising trend on the daily time frame. Buy GE Shipping for a rally towards Rs 375 and above that to Rs 430 over the next 6-8 weeks. Keep a stop loss below Rs 290.
(Analyst: Manish Shah, Trader, Researcher and Trading Coach, Niftytriggers.com)
On the weekly charts, the stock is showing major signs of reversal which could mean a long term reversal in trend that could last for several months. On the daily time frame, we see prices in a range..
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The stock is trading above its 200-EMA, indicating that the positive momentum in the stock is likely to continue. Shriram Transport Finance has bounced back from the support of its 55-DMA and also from the lower band of its uptrend channel. We recommend buying above Rs 1,425. We expect a target of Rs 1,580 from a medium-term perspective with a stop loss placed at Rs 1,280.
(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)
The stock is trading above its 200-EMA, indicating that the positive momentum in the stock is likely to continue. Shriram Transport Finance has bounced back from the support of its 55-DMA and also fr..
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UPL is currently moving in an uptrend channel. It has been trading above its 200-DMA, indicating a positive outlook on the stock. We expect the momentum to continue in the stock as it has bounced back from its 55-SMA. We recommend buying with a target of Rs 710 with a stop loss placed at Rs 585 from a medium-term perspective.
(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)
UPL is currently moving in an uptrend channel. It has been trading above its 200-DMA, indicating a positive outlook on the stock. We expect the momentum to continue in the stock as it has bounced bac..
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Shares of the IT company has been trading in an upward trending channel, and the positive momentum is likely to continue. It has formed a morning star formation and has bounced from the low of its55-DMA. We recommend buying Tech Mahindra above Rs 1,025, maintaining a target of Rs 1,090 with a stop loss at Rs 970 for a short-term period.
(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)
Shares of the IT company has been trading in an upward trending channel, and the positive momentum is likely to continue. It has formed a morning star formation and has bounced from the low of its55-..
Analysts said that the demanding valuation looks cheap at 1.4 times FY23 EV/sales, but the stock at 46 times FY23 EPS offers limited upside. Uncertainty over the second Covid wave, its impact on the predominantly dine-in restaurant chains, losses at PAT levels and the fact that the company just a couple of months ago raised funds in a pre-IPO allotment at half the IPO price band have made analysts go wary of the IPO. Analysts said investors can give this IPO a miss.
Barbeque Nation Hospitality owns and operates casual dining restaurant chains Barbeque Nation Restaurants and International Barbeque Nation Restaurants. It also owns and operates Toscano Restaurants and You & Barbeque.
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The company operated 164 restaurants as of December 31, out of which, 147 were Barbeque Nation Restaurants spread across 77 cities in India.
