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What was Zomato IPO price? October 20 2021Zomato IPO price, Zomato IPO, Zomato share price,

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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 first-of-its-kind listing.

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 platform.

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?

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