Zomato share price closes 9.5% higher on the listing day! Check market debut details here

Amid the first day of its listing on exchanges, the shares of Zomato surged around 9.5 per cent to Rs 125.85 per share on the BSE, after hitting a new high of Rs 138 per share. The scrip touched  

Zomato, a food delivery platform, 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. 

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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. 

A new and unique business model company — Zomato's initial public offer was oversubscribed by over 38 times, mostly by the QIBs.  

Singhvi has suggested for fresh buyers to make an entry in the stock around Rs 90 per share level and Hold it for bumper returns in the long term view.  

The managing editor ahead of its IPO launch had explained that investors with huge risk appetite and long-term vision should subscribe for the food delivery aggregators IPO.  

The net proceeds raised from the fresh issue will be used for funding organic and inorganic growth initiatives and general corporate purposes. 

Zomato’s IPO is considered to be the biggest so far after SBI Cards which was over Rs 10000 crore in March 2020.