Zomato delivers stellar debut; market cap reaches WHOPPING Rs 1 lakh cr

Stocks of online food delivery platform Zomato made a stellar debut on stock markets with market valuation crossing Rs 1 lakh-crore-mark.

Around 1 p.m., its shares on the BSE were trading at Rs 125.90, higher by Rs 10.90 or 9.48 per cent from the issue price of Rs 76 per share.

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On the BSE, it got listed at Rs 115 a share.

Further, on the National Stock Exchange, its shares were trading at Rs 125.85, against the issue price of Rs 76.

It got listed on the NSE at Rs 116 per share.

Post the stellar debut, the market capitalisation of Zomato is around Rs 1 lakh crore.

The much-anticipated initial public offering (IPO) of Zomato was subscribed over 38 times by the end of the final day of the issue on Friday.

According to data on the BSE website, qualified institutional buyers (QIB) subscribed 51.79 times of their earmarked portion. The portion of the non-institutional investors was subscribed 32.96 times.

Furthermore, retail investors subscribed 7.45 times of the portion allocated to them. The portion reserved for employees was subscribed 0.62 times.

"Zomato, India's leading online food delivery company, listed strongly on the exchanges today with 53 per cent premium at Rs 116 per Share against its issue price of Rs 76 per share," said Sneha Poddar, Research Analyst, Broking & Distribution, Motilal Oswal Financial Services.

"Such stellar debut on exchanges led to its market capitalization crossing Rs 1 lakh crore. Despite the large size of IPO at Rs9,375 crore and rich valuations, the company saw healthy overall subscription of '38x'."