Steller Debut: Zomato starts trading at rs 115, A premium of 52%

Mumbai: Food Delivery major, Zomato Ltd on Friday listed a premium on both brousesShare listed at Rs 115 a piece on BSE a premium of 51.32 per cent and at 116 a piece on NSE a premium 52.63 percent to its final offer price of Rs 76.

Zomato entered the elite club of Indian companies to achieve a market capitalisation of Rs 1 lakh crore as its share scaled Rs 129.95 on the BSE at 1001 hrs.The Rs 9,375-crore initial public offering, which opened for subsciption during July 14-16, had seen a stellar response from investors with 38.25 times subscription - highest in last 13 years among IPOs valued more than Rs 5,000 crore each.

The qualified institutional buyers (QIBs) bid almost 52 times the quota reserved for them, non-institutional investors bought 640 crore shares against their quota of 19.43 crore. Retail investors bid 7.45 times for the 12.96 crore shares made available to them in the IPO.

However, quote reserved for employees of the company did not see 100 pc subscription, who sought just 62 per cent of the 65 lakh shares for the category.

Incorporated in 2010, Zomato through its technology platform connects customers, restaurant partners and delivery partners, serving their multiple needs. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business. It also operates a one-stop procurement solution, Hyper-pure, which supplies high quality ingredients and kitchen products to restaurant partners.

It has two core business-to-customer (B2C) offerings – Food delivery, and Dining-out, in addition to its business-to-business (B2B) offering Hyperpure. Another part of its business is Zomato Pro, its customer loyalty program encompasses both food delivery and dining-out.

(UNI)