Zomato flies on market debut, up 68% from issue price
After a massive response to its IPO, online food delivery platform Zomato recorded a robust debut on the stock market on Friday.
Around 10.58 a.m., its shares on the BSE were trading at Rs 127.90, higher by Rs 51.90 or 68.29 per cent from the issue price of Rs 76 per share.
On the BSE, it got listed at Rs 115.00 a share.
Further, on the National Stock Exchange, its shares were trading at Rs 127.20, against the issue price of Rs 76. It got listed on the NSE at Rs 116 per share.
Post the stellar debut, the market capitalisation of Zomato is around Rs 1 lakh crore. Currently, it is at Rs 96,103.45 crore.
The listing was in line with the expectations.
The much-anticipated initial public offering (IPO) of Zomato was subscribed over 38 times by the end of the final day of the issue on Friday.
According to data on the BSE website, qualified institutional buyers (QIB) subscribed 51.79 times of their earmarked portion. The portion of the non-institutional investors was subscribed 32.96 times.
Further, retail investors subscribed 7.45 times of the portion allocated to them. The portion reserved for employees was subscribed 0.62 times.
