Mumbai, NFAPost: Food delivery giant Zomato entered into top 50 most valuable companies on the BSE after its initial public offering (IPO) on Friday and its market capitalisation (market-cap) cross the Rs 1-trillion mark at Rs 1.08 trillion in intra-day trade.
The company’s ended its IPO with Rs 98,732 crore market-cap and it helped the company to snatch 49th position in market-cap rankings on the BSE at the end of the day.
Zomato’s IPO, the first by an Indian unicorn, received an overwhelming response from investors and generated bids worth Rs 2 trillion as it was subscribed over 38 times last week. The issue price was set at Rs 72-76 apiece. The IPO comprised a fresh issue of equity of as much as Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge (India).
Nearly three-fourths of the bids came from institutional investors, with the qualified institutional buyer (QIB) portion garnering 52 times subscription. The high net-worth individual (HNI) portion was subscribed nearly 33 times, and the retail portion by over seven times.
Food delivery giant Zomato made a stellar debut on the bourses with its shares ending at Rs 125.85, a 66% premium against its issue price of Rs 76 per share on the BSE. On the National Stock Exchange (NSE), the stock ended at Rs 125.30, the exchange data shows.
The stock of Zomato had opened at Rs 116 on the NSE, 53% higher than its issue price. Post listing, the stock rallied up to 20% from its opening level at Rs 138.90, up 83% compared to its issue price on the NSE.
Meanwhile on the BSE, the stock listed at Rs 115, a 51% jump over its issue price. It touched a high of Rs 138 and a low of Rs 114 in the intra-day trade today. The counter saw a huge trading volume, with nearly 740 million equity shares changing hands cumulatively on the NSE and BSE during the day.