Business / Zomato lists at 53% premium over IPO price, enters club of India's top 100 listed firms

Zoom News : Jul 23, 2021, 01:14 PM
Mumbai: Leading online food delivery giant Zomato has delivered a bumper listing treat to investors after the firm’s initial public offering (IPO).

Zomato’s stock got listed on the National Stock Exchange (NSE) at Rs 116 per share — a 53 per cent premium on its final offer price of Rs 76. On the Bombay Stock Exchange (BSE), it opened at Rs 115 at a premium of over 51 per cent.

After getting listed, Zomato’s market capitalisation soared over Rs 1 lakh crore on the NSE. The firm’s m-cap has increased to Rs 1,08,067, highlighting the strong stock market debut.

Zomato’s Rs 9,375 crore initial public offering (IPO), which opened for subscription during July 14-16, received a strong reception from investors.

The public issue was subscribed over 38 times, which is the highest in the last 13 years among IPOs valued at more than Rs 5,000 croreIt may be noted that Zomato’s public issue received bids for 2,751.25 crore shares against the IPO size of 71.92 crore equity shares. The firm had also received a strong response from anchor investors and managed to raise Rs 4,197 crore on July 13.

Analysts had earlier indicated that Zomato would deliver strong listing gains to investors.