What was Zomato IPO price?
On July 23, Zomato, India's largest meal
delivery service, got off to a fast start on Dalal Street, launching at Rs 116
on the NSE, a 52.63 percent premium over its final offer price of Rs 76. On the
Bombay Stock Exchange, the launching price was Rs 115, up 51.32 percent.
On the BSE, the shares ended at Rs 125.85,
up 65.59 percent from the issue price of Rs 76, while on the NSE, the shares
closed at Rs 125.30, up 64.87 percent from the issue price of Rs 76.
After first listing at Rs 116, the stock
rose to Rs 138 intraday, above the final offer price of Rs 76.
Despite the IPO's big size (Rs 9,375 crore)
and high valuations, Zomato received a solid 38x overall subscription. There
has been a lot of excitement in the market for such a unique and
The company's market capitalisation crossed
Rs 1 lakh crore, standing at Rs 1,08,067.35 crore, beating out IOC, BPCL, and
Shree Cements after a strong opening on Dalal Street.
The Rs 9,375-crore IPO, which was out for
subscription from July 14 to 16, got a phenomenal response from investors, with
38.25 times subscription, the most in the last 13 years for IPOs valued higher than
Rs 5,000 crore.
Zomato, which was founded in 2010, connects
customers, restaurant partners, and delivery partners through its technological
platform, allowing them to meet their various demands. On the other side, it
offers restaurant partners industry-specific marketing solutions that help them
interact and acquire customers in order to expand their business. Hyper-pure,
the company's one-stop procurement solution, offers restaurant partners with
high-quality food and kitchen items.
Food delivery and dining-out are two of
Hyper-pure's key business-to-customer (B2C) offerings, in addition to its B2B
offering. Zomato Pro, a client incentive program that includes both meal
delivery and dining out, is another aspect of the company's business.
From October 2020 to March 2021, Zomato
consistently increased market share to become the category leader in India in
terms of gross order value (GOV). The majority of its revenue comes from food
delivery and the fees it charges its restaurant partners for using the
The online meal delivery business in India
is being propelled by changing lifestyles and eating habits, as well as a
hectic schedule and increased disposable income in India.
Online meal delivery trends in India are
also being driven by rising digitalization among millennials and an increasing
number of working women.
Also read - How to check Zomato IPO application status?