Barbeque-Nation Hospitality jumps on incorporating step down subsidiary in Bahrain
Barbeque-Nation Hospitality is currently trading at Rs. 635.55, up by 8.90 points or 1.42% from its previous closing of Rs. 626.65 on the BSE.
The scrip opened at Rs. 632.00 and has touched a high and low of Rs. 645.15 and Rs. 630.00 respectively. So far 2706 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1269.55 on 02-Aug-2022 and a 52 week low of Rs. 592.65 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 645.15 and Rs. 602.05 respectively. The current market cap of the company is Rs. 2457.22 crore.
The promoters holding in the company stood at 33.79%, while Institutions and Non-Institutions held 44.23% and 21.97% respectively.
Barbeque-Nation Hospitality has incorporated a step down subsidiary of the company under the name ‘Barbeque Nation Bahrain W.L.L’ (BNB) in the Kingdom of Bahrain has been approved by the Regulatory Authorities in Bahrain. The company has incorporated a step down subsidiary of the company on June 5, 2023.
In order to explore the business opportunities in the Kingdom of Bahrain, the company has set-up and incorporated BNB as a Subsidiary of Barbeque Nation MENA Holding, a Wholly Owned Subsidiary of the Company situated in Dubai, United Arab Emirates. The Business of step down subsidiary is in line with the business of the company.
Barbeque-Nation Hospitality is one of the leading casual dining chains in India, the company pioneered the concept of 'over the table barbeque' live grills embedded in dining tables - allowing guests to grill their own barbecue’s right at their tables.