Burger King India jumps 131% in whopper of IPO
Liquidity drives feeding 'frenzy' around the stock, helped by vaccine hopes
Burger King India posted revenue growth for the fiscal year ended March 2020 but continues to lose money. (Photo courtesy of Burger King India's website)
MUMBAI -- U.S. fast-food company Burger King's Indian subsidiary sizzled in its stock market debut Monday, ending the first trading day 131% higher than its issue price on the Bombay Stock Exchange.
Burger King India opened at 115.35 rupees in its maiden trade, which was 92% higher than its issue price of 60 rupees on the BSE. The stock ended the day at 138.40 rupees, or about $1.88.
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