BENGALURU: Food delivery firm’s shares in first stock market listing of Indian startups worth over $1 billion Zomato Limited Opened on Friday at a 52.6% premium over its offer price, achieving a market valuation of over Rs 1 lakh crore.
The market capitalization of Zomato has crossed the Rs 1 lakh crore mark and as per BSE, the value was Rs 1,02,850.31 crore (as of 10:24 am).
Shares opened at Rs 116 in pre-open trade against the initial public offer (IPO) price of Rs 76.
The company is offering 1.23 billion shares at the highest level of its price band, with IPO size up to Rs 9,375 crore.
The listing, which went on for four days, took India’s stock market to an all-time high, with strong interest for digital companies backed by foreign funds.
The homegrown food aggregator, launched in 2008, operates in around 525 cities in India and has partnered with around 390,000 restaurants.
The company’s offering last week garnered $46.3 billion in bids as it was more than 38 times oversubscribed, with even large institutional investors making major bets.
The market capitalization of Zomato has crossed the Rs 1 lakh crore mark and as per BSE, the value was Rs 1,02,850.31 crore (as of 10:24 am).
Shares opened at Rs 116 in pre-open trade against the initial public offer (IPO) price of Rs 76.
The company is offering 1.23 billion shares at the highest level of its price band, with IPO size up to Rs 9,375 crore.
The listing, which went on for four days, took India’s stock market to an all-time high, with strong interest for digital companies backed by foreign funds.
The homegrown food aggregator, launched in 2008, operates in around 525 cities in India and has partnered with around 390,000 restaurants.
The company’s offering last week garnered $46.3 billion in bids as it was more than 38 times oversubscribed, with even large institutional investors making major bets.
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