InvestorQ : How was the Zomato listing on Friday 23 July on the NSE and the BSE?
indhumathi Sayani made post

How was the Zomato listing on Friday 23 July on the NSE and the BSE?

12 months ago

Zomato had a stellar debut on the NSE and the BSE. It listed at Rs.115 but closed higher at Rs.125.85, an appreciation of 66% at the close of day-1 of listing. The performance was almost similar on both the exchanges. The stock did touch a high of Rs.138 during the day but later gave up gains. The volumes on the NSE was the highest on the day in value terms and the second highest in number of share terms.

Zomato saw huge trading volumes with over 74 crore shares changing hands on the NSE and BSE during the first day of trading. Clearly, the appetite seems to be huge. The company had a total market cap of Rs.60,000 crore based on the IPO price but post listing it crossed the Rs.100,000 crore mark. The closing market was a tad above Rs.98,700 crore. However, the free float market is just about Rs.8,800 crore at the current juncture.

It may be recollected that Zomato was the first digital IPO to get such a phenomenal response in the market. Against the offer size of Rs.93,75 crore, the total applications were received for over Rs.200,000 crore during the IPO. While 75% of the bids was reserved for the QIBs, yet that portion got subscribed 52 times, showing the institutional appetite being extremely strong. Post the IPO, Zomato has cash of Rs.15,000 crore in its balance sheet and that is likely to given the war chest for future acquisition and expansion plans.