Burger King shares hit low first time today after its debut, the share price fell 9.98% to ₹175 on BSE. On Thursday, Burger King shares had hit 20% upper circuit to ₹219 on BSE. The recently listed stock, after more than doubling in price on market debut on Monday, had hit the upper circuit in the previous two session.
Burger King opened at Rs 213.80 but hit low at Rs 175 despite successful performances in last weeks. The stocks closed at Rs 194.40 in the previous session.
The market capital of Burger King India has now fallen to ₹6,844 crore, in comparison to ₹8,363 where it was standing in early trade. Burger King’s market debut on Monday was the best since 2017 when Astron Paper & Board Mill Ltd jumped 142%.
Burger King India’s ₹810 crore IPO was subscribed a massive 156.65 times earlier this month, with restaurants open for business post lockdown and COVID-19 vaccines in sight, investors are betting that the fast-food chains will see a strong demand recovery.
