The shares of Zomato, a food delivery aggregator, continue to surge on the second day after its stock market journey on Friday. The counter on Monday surged over 6.4 per cent to Rs 134 per share on the BSE intraday trade.

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The shares got listed around 60 per cent higher to Rs 121 per share on the BSE and NSE, above Zee Business Managing Editor Anil Singhvi's expectation of Rs 100-110 per share. It made a 52-week high of Rs 138 per share and Rs 114 per share as an all-time low on the BSE, during its listing on Friday.

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The three-day initial public offer of Zomato was launched on July 14, 2021, and closed on July 16, 2021, for an issue size of Rs 9,375 crore and with a price range of Rs 72-76 per share.  

The company backed by Jack Ma’s Ant Group has already mobilised Rs 4,196.51 crore from 186 anchor investors a day before IPO. And, was oversubscribed by over 38 times, mostly by the QIBs.

At around 13:50 pm, the stock was trading 4.3 per cent higher to Rs 131.25 per share, which is near to 52-week high level, as compared to flat but positive S&P BSE Sensex.

Zomato is one of the first Indian unicorn startups to launch an IPO. It is also the first among Indian online food aggregators. The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing and early investor Info Edge (India).  

The company regained its market capitalisation of over Rs 1 lakh crore, which was touched on Friday during listing gains. The counter opened today with a sharp upside spike, however, immediately fell to day’s low level at Rs 125.5 per share which is a Friday’s close.