Zomato shares have made a stellar debut on the bourses after the share listing was advanced from the scheduled date of July 27. The shares of the food startup opened at ₹ 116, a premium of ₹ 53 per cent compared to the issue price of ₹ 76. At 10:05 am, Zomato shares were trading at the day's high of ₹ 134.70, up 77.63 per cent on the BSE and ₹ 135.60, up 77.57 per cent on the NSE.
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Zomato is India’s home grown unicorn company and significantly one of the most awaited IPO. There is a lot of zeal on D-Street even before the IPO announcement. “Market is expecting a price band of Rs 70-72 for the Zomato IPO. The listing of the unicorn startup will be more in focus with respect to its valuations as the market will probably not value such companies traditionally,” Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares,said.Doshi added that recently listed DoorDash Inc. on NYSE has given stellar returns to its investors while India is still in its nascent stage in this sector where there are immense growth opportunities.
Zomato's ₹ 9,375-crore offer had received a stupendous response from the investing community. The IPO was subscribed 38.25 times; the portion reserved for qualified institutional buyers (QIB) was subscribed 51.79 times, non-institutional investors attracted 32.96 times subscription and retail segment, 7.45 times.