The online food delivery giant Zomato’s stock price on July 23, was up 66 percent or Rs 50 from IPO price of Rs 76. On opening day, Zomato shares hit 20 per cent upper circuit at Rs 138, nearly doubling IPO investors money.
The increase in stock price is made it the 13th IPO since 2020 to record listing gains of more than 50 percent in the opening tick.
The stock opened at Rs 116 on the NSE, a 52.63 percent premium to its final offer price of Rs 76.
Zomato shares made a strong stock market debut on Friday, closing the initial day of trade at Rs 126 per share on the NSE.
The total market value of the online food delivery platform stood at Rs 98,211 crore on the closing day. While on BSE, Zomato shares closed 65 per cent or Rs 49.86 higher at Rs 125.85 apiece.
Around 451 lakh shares were exchanged 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 IPO saw a subscription of over 38 times, receiving a robust response from all pockets of investors. This is the largest to hit Dalal Street since SBI Cards and Payment Services’ Rs 10,341-crore IPO in March 2020.
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