Food delivery platform Zomato made a stellar debut in the stock markets on Friday morning, listing at a share price of Rs 116 on the National Stock Exchange – a 52.63% premium over its issue price of Rs 76.
On the Bombay Stock Exchange, the shares of the company were listed at Rs 115, a 51.32% premium above the issue price quoted by Zomato in its recently-concluded Initial Public Offering or IPO.
At 1.40 pm, Zomato’s shares were priced at Rs 125.15 apiece on the BSE, up 8.83% from the listing price. The company’s market capitalisation stood at Rs 98,260.88 crore. The broader market was gaining 0.45%.
The allotment of the Zomato IPO shares was finalised on Thursday, a day ahead of the listing, which came earlier than the scheduled date of July 27.
The Rs 9,375-crore IPO, which was open for subscription between July 14-16, saw investors oversubscribing the issue 38.25 times. The offer received bids for over 2,751 crore equity shares against the IPO size of 71.92 crore shares.
The company had also raised Rs 4,196.51 crore from 186 anchor investors ahead of its IPO opening.
Zomato is the first Indian unicorn startup to get listed in the stock markets. A unicorn status implies a valuation of $1 billion or more.
“Today is a big day for us...we couldn’t have gotten here without the incredible efforts of India’s entire internet ecosystem,” Zomato’s founder and Chief Executive Deepinder Goyal said in a blog post.