Zomato shares plunge with 53% premium, investors become wealthy

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New Delhi, 23 July 2021 Friday

Zomato, which offers a menu of various restaurants on its platform in addition to food delivery, is listed today at a premium of 53 per cent of its issue price. It opened at Rs 115 on the Bombay Stock Exchange (BSE) with a premium of 51.32 per cent. There on the National Stock Exchange (NSE), it was listed at Rs 116 with a premium of 52.63 per cent.

At the same time, Zomato made history on Friday as it became the first unicorn company in the country to be listed on the stock exchange. Shortly after listing, the stock touched Rs 138. The market capitalization of the company has crossed one lakh crore rupees. At the same time, Zomato has become one of the top 100 companies in the country through market capitalization.

Its lot size for investors was 195 shares. That is, 195 stocks and its multiple stocks were bid for. Zomato has raised Rs 4,196.51 crore from 186 anchor investors till July 13.

More than 38 bids were received on the last day

On the third and final day of the IPO, 38 times more bids were received. Retail investors, who remained silent for the first two days of the IPO, bid several times more than the number of shares reserved for them.

According to stock market data, online food delivery company Zomato received applications for a total of 2,751.25 crore shares as compared to 71.92 crore shares included in the offer. Non-institutional investors applied for 640 crore shares against 19.42 crore shares reserved for them. Which is 52 per cent more than the reserve share.

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