I want to put this out publicly because it might save someone lakhs. A few weeks ago, I was offered Groww unlisted shares at ₹135. The pitch was aggressive: “Discount. Limited quantity. Take it now.” No mention of lock-in. No mention of commissions. They had emailed me a request for ₹6,75,101 for 5,000 shares. (Attaching screenshot for transparency.) I even added their bank account and was minutes away from transferring the money. From the hype they gave, I thought it would have a bumper listing. Coincidentally, @dmuthuk had posted not to buy unlisted shares however lucrative they look. He specifically mentioned lock-in and commissions. So I casually asked the people who pitched it to me about the lock-in period and the truth suddenly changed: “Yes sir, 6-month lock-in is there…” They hadn’t disclosed this earlier. That moment, I walked away. Now see what actually happened: • IPO Price: ₹100 • Listing Price: ₹114 • My offered price: ₹135 • Current Market Price: ~₹137 (it closed yesterday at this price) If I had gone ahead: • I would have entered 35% above IPO • Taken a ₹21 per share loss on listing • That is ₹1,05,000 wiped out on Day 1 • And been locked in for 6 months, unable to exit And here’s the funniest part: Even today at ~₹137 I could have bought freely from the open market with zero lock-in, zero hidden cuts, full liquidity. Exactly what Mr. Muthukrishnan has been warning about. Unlisted share hype is a trap. Commissions are massive. Risks are hidden. And the buyer pays the price. If Muthu’s warnings weren’t there in the X post , I would have been stuck with a bad deal and a pointless loss/also a lock-in. Sharing this so others don’t fall for the same trick. There is no quick money with the stock markets. Transparency > Hype. Liquidity > Illusion. Thank you @dmuthuk for the wonderful job with your X posts. Cc @SEBI_India