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Comic: IPOs Are All Pumped Up
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Burger King s India franchise soars 125% on stock market debut
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Burger King India shares jump 125% above IPO price CNN 12/14/2020 By Michelle Toh, CNN Business © Dhiraj Singh/Bloomberg/Getty Images Auto-rickshaws sit in traffic outside a Burger King restaurant, operated by Burger King Worldwide Inc. and the Everstone Group, in Mumbai, India, on Monday, March 26, 2018. A pickup in the economy and growing demand from the planet s largest youth population are boosting fast-food sales in India. Photographer: Dhiraj Singh/Bloomberg via Getty Images
Burger King s Indian franchise has pulled off a whopper initial public offering.
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Shares in Burger King India opened at 112.5 rupees ($1.53) per share on their first day of trading Monday in Mumbai, nearly double the IPO price of 60 rupees (about 80 cents). The stock later shot up even further, closing at 135 rupees ($1.84).