Zomato share price: At 10.30 in the morning, the stock of Zomato was trading at a level of Rs 133 with a gain of about 75 percent. The market cap of the company has crossed 1 lakh crore.
Market cap crosses 1 lakh crore on the very first day.
Zomato share price: As expected, Zomato’s listing got a bumper jump, living up to that expectation. Shares of Zomato were listed on NSE at Rs 116 at a premium of 53 per cent. On BSE, this stock was listed at Rs 115 level. The issue price for this IPO was between Rs 72-76.
At 10.22 am, the stock price of Zomato was Rs 132.80, up 14.48 per cent above the listing price. It is witnessing an increase of about 75 percent as compared to the issue price. At present the market cap of the company is beyond 1 lakh crores. The company has collected a fund of 9375 crores through IPO. It has a fresh equity share of 9000 crores.
Special thanks to Jio
Before the listing of the shares, the company’s founder and CEO Deependra Goyal thanked his investors and shareholders through a blog. In his blog, he wrote that without the Internet ecosystem, we would not have reached here. He also thanked Jio Ecosystem for creating this digital ecosystem. He said that without this this kind of development of digital based companies would not have been possible.
There is no dearth of investors in the world
He further writes, the way the company’s IPO has received response, it proves that there is no shortage of investors in the world. Let us tell you that Zomato’s IPO got about 38 times subscription. This subscription demand was of 2.13 lakh crores, which was the third largest in Indian capital market history.
7.87x subscription to retail
Zomato’s IPO was open between July 14-16. Investors have bid Rs 2.13 lakh crore for this IPO. Let us tell you that the portion which was reserved for QIB got 54.71 times subscription. The subscription for non-institutional investors was 34.80 times the share that was reserved, while the share for retail investors was subscribed 7.87 times.
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