Zomato share made its market debut at a premium of over 52% to IPO issue price today. Share of Zomato opened at Rs 116, 52.63% higher on NSE against issue price of Rs 76. Market cap of the firm stood at Rs 1.02 lakh crore on NSE.
Total 36.10 crore shares changed hands amounting to turnover of Rs 4,967 crore on NSE
On BSE, the food delivery firm made its debut at Rs 115, 51.31% higher to the issue price.
At 10:11 am, Zomato share was trading 81.58% or Rs 62 higher at Rs 138 against IPO issue price on BSE. Market cap of the firm rose to Rs 1.07 lakh crore on BSE.
Total 1.99 crore shares changed hands amounting to turnover of Rs 26,571 crore on BSE.
Shares in the IPO were offered in a price band of Rs 72-76. The firm has raised Rs 9,375 crore from the IPO. The issue was open from July 14 to July 16.
On the final day, the initial public offer (IPO) was subscribed 38.25 times.
The issue received bids for 2,751.25 equity shares against IPO size of 71.92 crore equity shares on offer. A day ahead of IPO, Zomato raised Rs 4,196.51 crore from 186 anchor investors.
The company allocated 55.22 crore equity shares to anchor investors for Rs 76 apiece. Tiger Global, BlackRock, New World Fund, Axis Mutual Fund, SBI MF, and HDFC MF received some of the allotment.
Funds raised from anchor investors were almost 45 per cent of the total issues size. Zomato reserved 75 per cent of the issue size for qualified institutional buyers while 25 per cent were reserved for high net worth individuals and retail investors.