Mario Tama/Getty ImagesNigel Travis, chief executive of Dunkin’ Brands, celebrated the stock offering outside the Nasdaq MarketSite in New York.

The latest splashy stock debut had all the markings of a sizzling technology start-up company: a better-than-expected offering price, a swarm of investors clamoring for shares and a first-day pop that defied a broader market drop.

But the company was not an online music service or a social networking site. It was a fast-food chain that sells bite-size Munchkin donuts and extra-large cups of coffee.

On Wednesday, shares of the Dunkin’ Brands Group, which priced its initial public offering at $19 a share, soared 46.6 percent, to close at $27.85. In spite of the turbulent market conditions related to the gridlock over the debt ceiling talks, the stock was flying high.

The gains on the first day mimicked those of newly minted Internet stocks like LinkedIn, Yandex and Pandora. At that level, Dunkin’, whose shares trade on the Nasdaq market under the ticker symbol DNKN, is valued at about $3.5 billion.

“People love brands, and we have two iconic brands with real history,” said Nigel Travis, the company’s chief executive. “We felt like this was good timing.”

For all the attention heaped on Facebook, Groupon, Zynga and other technology start-ups developing the next new thing, demand has been just as strong for some basic businesses that sell food, clothes and other consumer goods.

A crush of international and domestic investors tried to get initial public stock offering shares of Dunkin’, with orders amounting to more than 20 times the size of the eventual offering, according to one person with knowledge of the matter. In all, Dunkin’ sold 22.25 million shares and raised $422.75 million.

Over the last year, 20 consumer-oriented companies have gone public, generating average returns of 29.5 percent, according to Renaissance Capital, an I.P.O. advisory firm. Francesca’s Holdings, a women’s boutique chain that went public last week, is trading 56 percent above its offering price. Despite getting off to a shaky start, retail offerings overseas have also posted strong gains, with Prada up 25 percent from its initial offering and Ferragamo up 44 percent.

By comparison, there have been 50 technology offerings in the last 12 months that have gained a more modest 21.7 percent on average. The initial offering market over all is up 16.4 percent in the same period, based on Renaissance Capital data.

“Consumer I.P.O.’s are resonating well because they are easy to understand,” said Paul Bard, vice president of research at Renaissance Capital. “Despite cautious signals, investors are looking forward and expecting consumer spending to improve.”

For Dunkin’s new investors, the offering was an opportunity to bet on a well-known brand that is expanding in the United States. Its brands Dunkin’ Donuts and Baskin-Robbins have long been staples in America’s quick-food industry, with histories stretching back to the 1950s. Five years ago, the spirits maker Pernod Ricard sold the company for $2.4 billion to the private equity firms Bain Capital Partners, the Carlyle Group and Thomas H. Lee Partners, which still own 78.3 percent.

Dunkin’, which makes nearly all its money from franchising, blankets the New England and New York areas with about one store for every 9,700 people. In contrast, the Western half of the United States suffers from a severe Coolatta shortage. Unlike the coffee-peddling rivals McDonald’s and Starbucks, which have thousands of locations in the region, Dunkin’ Donuts has just 109 outlets. According to Mr. Travis, the company will open about 250 stores this year and will double the number of American stores in 20 years.

“This is a long-term play for us,” said Josef Schuster, the founder of the money manager IPOX Schuster, which got shares in the Dunkin’ offering. “Although their sales growth is modest, they haven’t touched the West, and that’s where strong earnings growth can come from.”

Unlike Web start-ups, consumer stocks are often established companies generating cash and profits. In 2010, Dunkin’ Brands earned $26.9 million on revenue of $577.1 million. Teavana and the Chefs’ Warehouse, other retail companies that are expected to start trading this week, are both profitable, too.

The consumer stocks are also cheaper in many cases. Dunkin’ is selling for about six times sales. LinkedIn trades around 39 times trailing sales.

“Many of these companies have a strong earnings record and are modestly priced,” said Mr. Schuster, who also owns the stocks of other recent offerings like Francesca’s and Vera Bradley, the accessories maker. “As these stocks continue to perform well, demand increases for consumer brand I.P.O.’s.”

Consumer stocks, particularly newly minted ones, are hardly a sure bet, particularly in an environment with a weak job market, anemic economic growth and global uncertainty. The private equity-backed Dunkin’ has the added burden of a $1.89 billion debt load. The company plans to use proceeds from the offering to help pay down its debt, according to a recent filing.

Retail companies typically do not have the same trajectory as fast-growing technology start-ups, either. Revenue at Dunkin’ increased 7 percent in 2010. LinkedIn’s sales more than doubled in the same period.

And today’s hot I.P.O. can always turn out to be tomorrow’s dud. Shares of Krispy Kreme Doughnuts, the fast-food chain that had a popular offering in 2000 and at one point traded for nearly $50, is currently at $8.27.

Still, the mood was celebratory on Wednesday when Dunkin’ went public on Nasdaq. To mark the day, the stock exchange unofficially changed its name to Nasddaq and splashed its logo with the signature pink and orange hues of Dunkin’ Donuts.

As shares of Dunkin’ climbed higher, Mr. Travis and his team sipped on the brand’s coffee and nibbled on a generous spread of doughnuts, Munchkins and Baskin-Robbins ice cream, which came in flavors like mint chocolate chip and strawberry.

“I’ve had at least seven cups of coffee today and a doughnut,” said Mr. Travis. “I’m delighted with the current enthusiasm, but I’ll wait until next week before I get too excited.”

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