Zomato, a digital food delivery service, has a fantastic listing today. The stock has a premium of 51.32 percent on the NSE. Zomato’s stock is trading at Rs 116 on the NSE, up from Rs 76 when it was first floated, and at Rs 115 on the BSE.
Zomato IPO: Zomato, a digital meal delivery service, has a fantastic IPO today. The stock has a premium of 51.32 percent on the NSE. Zomato’s stock is trading at Rs 116 on the NSE, up from Rs 76 when it was first floated, and at Rs 115 on the BSE. That is, Zomato’s stock is trading at a premium of Rs 39 to 40 to its issue price.
The market capitalization has surpassed Rs. 1 lakh crore.
The rise in Zomato’s stock has continued after its IPO. Zomato’s stock has risen to Rs 138.90 on the NSE intraday thus far. The company’s stock has a market capitalization of over Rs 1 lakh crore. It has risen to number 45 in India in terms of market capitalization. Zomato has already surpassed Tata Motors, Dabur, Godrej Consumer, Shree Cement, IOC, and BPCL in terms of market capitalization. The fascinating thing is that Zomato’s market cap has now surpassed that of Info Edge, which owns the majority of Zomato’s stock.
Instead of July 27, the listing was completed today.
Zomato was originally scheduled to be listed on July 27, However, it was agreed to list it four days ago, on today’s date. On Thursday, July 22nd, Zomato shares were distributed. Zomato’s initial public offering (IPO) last week garnered a strong reaction, with the stock being subscribed 38 times. Through this issue, the company has created a demand of Rs 2.13 lakh crore, the most in 11 years and the third-largest in capital market history. This initial public offering (IPO) began on July 14th and ended on July 16th.
375 crores in OFS
Zomato’s IPO included an offer for sale (OFS) of Rs 375 crore, as well as new equity shares at Rs 9000 crore. The company had originally planned to raise 8250 crores through an IPO, however, this was later raised. The pricing band for Zomato’s IPO was set at Rs 72 to Rs 76. There was a lot size of 195 shares in it at the same time. It was necessary to deposit at least Rs 14820 in the top price band of Rs 76.