Zomato
has been on a bull run since its launch, hitting new highs in the last three
trading sessions and nearly doubled its IPO price of 76 rupees per share.
Shares in food supplier Zomato rose 20 per cent to Rs138m after doubling
investors "money and settling at Rs126m at the end of trading. Shares of
the company rose 5 percent in morning trading on the New York Stock Exchange
(NSE) to a new all-time high of 147.80 rupees on Tuesday.
Zomato
shares made a strong stock market debut and traded at a premium of 5.3 percent
on NSE to 40 rupees and 76 rupees to 115 rupees on BSE (51.31 percent). The
share price of Zomato, which entered the BSE and NSE during the day, reached a
triple-digit rise to a whopping Rs 138.70.
With a
66 percent increase in the share price and a market capitalization of just over
98,000 kronor ($1.3 billion), Zomato exceeded expectations on the first day of
its stock performance. The company joined the elite club of Indian companies to
get a market capitalization of more than 1 crore when its shares reached 12,995
points at 10.01 am on the BSE. The company reached a market capitalization of
Rs 10.8 lakh crore on the first day of BSE, its highest ever level, making it
one of the few listed companies to join the Rs 1 lakh crore market
capitalization group on its debut market.
Retail
investors bid 745 times for 12.96 Core shares, giving them 9,000 Core when
Zomato goes public. The company set the price at the upper end of the offer
range of Rs 72-76 for 7,192 cron shares. Except for employee reserves, the
company did not achieve 100 percent of the targeted subscriptions in the 62
percent and 6.5 percent categories.
On the
NSE, the company`s shares traded at a 52.63 per cent premium at Rs116. On the
Bombay Stock Exchange, shares listed on the national stock exchange for 115
rupees, a premium of 51.32 percent over the issue price indicated by the
company at the close of the IPO.
The
price of the IPO was set at 76 rupees per share and the stock opened at 5.263
rupees, higher at 116 rupees on the Indian National Stock Exchange, which is
valued at 910 billion rupees (12.2 billion dollars). Zomato shares were traded
on the other India`s Stock Exchange BSE, where they opened at 115 rupees per
unit. Shares of the online shopping service rose 8.28 percent to 116 rupees in
premarket trading, a 5.3 percent premium to the offer price of 76 rupees and
937.5 billion rupees at the IPO (Reuters).
Zomato
shares rose 6.12% to 13,260 rupees after closing at 12,495 rupees on the New
York Stock Exchange. Zomato shares opened at a 5.3% premium to the issue price
of Rs 76. On the NSE, shares in Zomato jumped 53 per cent from 40 rupees to 116
rupees.
Zomato
was at the forefront of India`s biggest first-sale offer in March 2020. The
highly anticipated IPO of Zomato was 38% subscribed by the end of the last day
of the issue last week. Zomato`s 9,375 crore offer was met with overwhelming
response from the investor community.
The
issue received bids of 275,125 shares for an IPO volume of 7,192 crore shares
offered. A total of 32.18 lakh shares changed hands on the BSE, which
corresponds to a turnover of 4,185 crore rupees. Zomato shares on BSE traded at
12.790 rupees, which was 5.190 rupees (68.29 percent) above the issue price of
7.6 rupees per share, as mentioned in the IPO.
Avinash
Gorakshkar, head of research at Profit Mart Securities, said of the fundamental
support for the Zomato share price rally: "Zomato grocery business is
awakening, activation activity is accelerating and is expected to gain
momentum. Analysts at UBS, quoted in a report in the Economic Times, pointed
out that the Zomato share has the potential to reach 165 rupees per share over
the next 12 months, according to the company. On that day there was active
over-the-counter trading with Zomato Food Delivery and Restaurant Discovery
Service Company, with 6.9 crore shares in transactions worth Rs 8,625 crore.
Food
delivery start-up Zomato soared on Friday, 23 July when it debuted in India,
reports Reuters and other news agencies. The company`s share price rose more
than 6 per cent today after it delivered its multi-billion pound order last
week. The company also acquired a 15 percent stake in Grofers, an online
grocery delivery company.
The
company is the first Indian unicorn startup to go public. Tech giant Uber sold
its Indian food delivery business in a share transaction to Zomato last year
and took a share in the company.
Zomato
has made history by becoming the first unicorn start-up to launch in India. The
Zomato listing on the Indian stock exchange is a turning point for India`s
capital markets, as investors now own a large and scalable new-age technology
company. Though it will not set the ball rolling for Zomato and similar modern
technology companies, India is seen as an emerging hub for startups and
unicorns, and many are poised for an IPO.
You can bid more IPO or share Click
here.
If you don’t have an account with Nirman
Broking, you can open one online and receive your login credentials within 2
hours. Start trading with bank nifty share and get a stock market call with our
advisor you can sign up using your mobile number on our website. Follow the simple on-screen instructions to open an
account. You will be required to enter your PAN, bank account details, and
personal details to continue with the sign-up.
Check out this
video walkthrough
to learn more.
Learn from Basic Fundamentals of Learn
Stock Market Investment Course to the A to Z Technical Analysis. The best stock
market class with stock courses from Nirman Institute. Learn from real-world
experts with easy-to-understand videos and exercises. Enroll Now
If you face any difficulties while
opening an account online, you can call us on —
0755-4260000 /
4077777