India’s leading online food delivery and restaurant discovery platform, Zomato, raised the third-highest amount in the Indian stock market’s history.
The Zomato IPO received a strong response from investors across various categories. At the last bidding day’s end, Zomato’s public issue was subscribed more than 38 times. This eagerly-awaited initial public offering is the largest one in D-street since the public issue of SBI Cards and Payment Services, worth Rs. 10341 crores.
Zomato shares got listed earlier than the previously scheduled date due to improved primary and broader market sentiments.
Here are some highlights of Zomato IPO share listing:
On the second day, shares of Zomato have continued to extend gains. At the time of writing, Zomato stock trades at Rs. 129.30 on the NSE, 2.5% higher than the previous closing price.
For investors looking to invest in shares of India’s leading online food aggregator, it’s vital to consider certain aspects like competitive strengths and financials. So, let’s look at some of the essential information regarding Zomato.
Some crucial details regarding Zomato that interested investors might want to consider are:
Zomato made an impressive debut on D-street as the market capitalisation crossed the Rs. 1 lakh crores mark. From the standpoint of demand supply, one can expect the stock price of Zomato to rise going forward as well.
Moreover, the industry’s long-term outlook appears to be positive. However, investors must note that this company is not yet profitable. That said, there’s a possibility of the margins improving soon owing to shifting consumer tendencies.
Zomato’s list of investors includes Info Edge, Alipay Singapore Holding Pte Ltd, Antfin Singapore Holding Pte Ltd, Sequoia Capital, Temasek Holdings subsidiary, and Deepinder Goyal (co-founder), besides others.
Zomato has nearly 390,000 restaurant listings and operates across 500 cities.
Zomato conducts operations in 23 countries worldwide, including Australia, Canada, and the USA.
Zomato obtained its latest funding worth $250 million on 22 February 2021.
At the end of the last bidding day, the retail individual investors (RII) section was subscribed 7.45 times.
Zomato will utilise the funds raised via its IPO to fulfil both inorganic and organic growth requirements besides meeting general corporate purposes.
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