Zomato, a food delivery startup, has listed at ₹116 on the National Stock Exchange. This is a 52.6% premium over the upper-band of its IPO price of ₹76.
The company is the first of a number of mega startups to list on the exchanges. New age tech startups such as PayTM and Flipkart too are in line for their listing on Indian stock exchanges, which are expected to take place this financial year.
Zomato is multinational present in 23 countries, with CEO Deepinder Goyal starting his journey uploading the menus of online restaurants on the intranet at Bain and Co., while he was working there. Zomato was launched as FoodieBay in 2007, but the name Zomato only came about in 2010.
Here's all you need to know about the IPO and listing.
1. When did Zomato's IPO open?
Zomato's IPO was open from July 14 - 17. The IPO, worth ₹9,375 crores, offered shares from in price band from ₹72 to ₹76 apiece.
Also Read: Zomato's IPO Opens On July 14: 7 Things To Know
2. How was the response to the IPO?
The IPO was subscribed 40.4 times.
The portion for institution investors was subscribed 54.7 times. The retail portion also saw good demand, being subscribed 7.9 times. institutional investors (those subscribing above ₹2 lakhs) subscribed the IPO 34.8 times.
Also Read: Nykaa, Policybazaar, Fino Payments: 5 IPOs To Watch Out For
3. How will the company use the money?
The company is expected to use the proceeds to fund growth, both inorganic and organic. They are also expected to enter newer ventures like grocery delivery.
4. What are the company's financials?
In financial year 2020 - 2021, the company had a revenue of ₹1,994 crores, but made a loss of ₹812 crores.
5. What is the company trading at?
At the time of publishing, the company is trading at XX, at YY% higher.
The market capitalisation of the company crossed ₹1 lakh crore, and the company is among the top 50 traded stocks.
Also Read: No, Zomato's Sales Have Not Dropped By 60% In 10 Hours
