Zomato IPO listing: Stocks open at 53% premium over issue price

The initial public offering (IPO) of the food delivery portal and restaurant aggregator Zomato has started trading on the stock exchange starting today, Friday, 23 July. The Zomato IPO was trading at Rs 115 per piece on BSE and was at Rs 116 on NSE with a 53 percent premium over the price of the issue.As reported by Moneycontrol, the market capitalization of the company has crossed Rs 1 lakh crore mark. After its debut on Dalal Street, the market capitalization was at Rs 1,08,067.35 crore.The IPO opened on 14 July and closed on 16 July and received a stellar response from the investors as it was subscribed more than 38.25 times. The fixed price band of the Zomato IPO was at Rs 72 to Rs 76 for as many as 71.92 crore shares. The publication further reports that the subscription of Zomato IPO was the highest in the last 13 years.It is also a category leader in terms of gross order value (GOV) from October 2020 to March 2021 as it has gained market shares, reported Moneycontrol.The report mentions that the listing has been in line with the expectations of the analyst despite rich valuations.Zomato IPO is India’s biggest IPO since March 2020 and the second-biggest after the Rs 10,341 SBI Cards and Payment Services. The IPO will give Zomato a valuation of Rs 64,365 crore.The issue was subscribed 51.79 times by the qualified institutional buyers (QIBs). Non-institutional investors subscribed for 32.96 times of their reserved portion. Retail investors subscribed their portion 7.45 times while the portion reserved for employees was subscribed 0.62 times.