Zomato ended the initial day of trade on the stock exchanges in the green. Image: Zomato Twiiter
Zomato IPO share listing HIGHLIGHTS: Zomato shares made a strong stock market debut on Friday, closing the initial day of trade at Rs 126 per share on the NSE. Zomato’s stock price was up 66 per cent or Rs 50 from IPO price of Rs 76. On opening, Zomato shares hit 20 per cent upper circuit at Rs 138, nearly doubling IPO investors money. The total market capitalisation of the online food ordering platform stood at Rs 98,211 crore on the closing bell, down from Rs 1 lakh crore earlier in the day. While on BSE, Zomato shares closed 65 per cent or Rs 49.86 higher at Rs 125.85 apiece. In traded volume terms, 451 lakh shares have exchanged hands on BSE, while 69.48 crore units traded on NSE. The Rs 9,375-crore IPO was sold in a price band of Rs 74-76 a share during 14-16 July. The mega public issue of the food-tech unicorn saw a subscription of over 38 times, receiving a robust response from all pockets of investors. Zomato’s IPO is the first Indian internet unicorn to make its stock market debut. This much-awaited public issue is the largest to hit Dalal Street since SBI Cards and Payment Services’ Rs 10,341-crore IPO in March 2020.
