Zomato recently held its Initial Public Offering(IPO) from July 14 to 16. And it made its debut on National Stock Exchange on Friday. The initial day of Trade was closed at rupees 126 per share. The upper band pricing in the IPO was rupees 76 per share that means Zomato stock price was up 66% for rupees 50 on the initial day of listing at NSE. At the time of opening, on Friday, it hit rupees 138 pricing per share translating into doubling IPO investors’ money.
Launched in 2010, Zomato’s technology platform connects customers, restaurant partners, and delivery partners, serving their multiple needs.
Zomato is India’s first Internet-based unicorn to come up with a public offering. Although earlier the date was fixed at 27 July for listing at stock exchanges.
The food delivery giant’s market capitalization also hit rupees 1 lakh crore earlier today. It stood at rupees 98,211 crores when the market closed. Its mega IPO saw a subscription of over 38 times.Although, before its listing on NSE and BSE, Zomato had a commanding premium of 35 to 40% in the grey market.
The company has entered the elite list of the top 100 most valued companies on the Bombay Stock Exchange. The company’s stock is listed at a premium of 51.3% on Dalal Street at Rs115 per share.