Thread by @caswapnilkabra

So, shares of #BurgerKingindia were trading at lower circuit yesterday and today too are in the negative territory.
A small thread to aware retail gullible investors who were keen to buy the shares are listing 👇🧵

#investing #investors

1. On 10th December 2020, the anchor investors were allotted shares of Burger King. These shares had a lock-in of 1 month and yesterday the lock-in ended.

2. The so called anchor investors who were just to make money in a short span of time tried to sell the shares as soon as the lock-in ended. Total 1.1 crore shares on NSE and BSE were delivered yesterday which is double the average of past two weeks.

3. These anchor investors booked a healthy gain of 150% after acquiring the shares at Rs.60 a piece.

4. Interestingly this caused the market float to increase by 33%. In IPO 13.5 crore shares were offered and now as the lock-in ended, 3.4 crore shares of anchor investors can be sold. This is why there is so much supply.

5. That's the reason why stock was trading at lower circuit in yesterday's session and today too was in the negative zone.

6. IPOs these days are more of a bubble. I have written extensively on how HNIs pump up the grey market premium and create a buzz before IPO. Poor retail participants who could not get shares in IPO then buy on listing and then are trapped.

https://twitter.com/caswapnilkabra/status/1312041674600742912?s=20

7. Also, as a matter of fact, the company #Burgerkingindia is a loss making company.
Here's more on how a loss making company can get itself listed 👇

https://twitter.com/caswapnilkabra/status/1334013221838016513?s=20

@manurishiguptha, @gvkreddi sir your thoughts?

*after listing