In the Zomato listing matter, the FoodTech giant has made a brilliant start and is priced at Rs. 116 with a 53% premium. The restaurant aggregator turned food delivery platform is finally listed on the Indian bourses and the company’s shares opened up at Rs. 116 per share. The company saw a 53% premium as its issue price was Rs. 76 per share. At around 10 AM, the company’s share was trading at Rs. 134.70, its day high, and is currently being traded at Rs. 126.25 at 1.00 PM IST.

Details

After fanfare and interest of an epic proportion, India’s FoodTech unicorn was finally listed on the country’s stock exchange on July 23, Friday. The company was all the buzz after its IPO received an awe-worthy positive response. The company’s IPO became the second largest IPO after Coal India’s Rs. 15,199 crores IPO in October 2010.


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The Numbers Painted an Optimistic Painting

The company initiated a Rs. 9,375 crore IPO and was subscribed as much as 38.25 times. IPO’s portion, which was reserved for qualified institutional buyers was subscribed as much as 51.79 times while traders too jumped into the action and the IPO attracted 32.8 times subscription by the non-institutional buyers. The remaining portion subscribed the IPO 7.45 times.

How did it all come about?

Zomato’s IPO comprised of a fresh issue of Rs. 9,000 crores and an offer for sale of Rs. 375 crores by InfoEdge India, the company’s promoter. Further, Zomato raised 4,196.51 crores from as many as 186 anchor investors including major tech and unicorn startup investors like American Funds, Tiger Global, New World Fund, etc.


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Is Zomato’s Listing Just the Beginning?

Zomato standing shoulder-to-shoulder with major companies is being seen as the foray of country’s first tech-startup unicorn to go public. While it may be a long time to go – other unicorn startups such as One97 owned fintech Paytm, ride-sharing commuting platform Ola and e-commerce giant Flipkart eying to battle it out on the Dalal Street.

“10+ year journey not always been smooth”: CEO Deepinder Goyal’s Letter

On the occasion of being listed on the country’s stock exchanges, Zomato CEO Deepinder Goyal wrote a letter saying-

“Our 10+ year journey has not always been smooth. We have lived through many ups and downs – something not every company has the privilege of living long enough to do. I have made many decisions which have been good for the company, while some have caused our stakeholders a lot of heartburn. That said, we have found ourselves managing times of crisis on different occasions in much the same way – impatiently staying focused on the long term, executing relentlessly, and committing ourselves to doing the very best we can do today.”


Also Read: No, It Wasn’t Just You! SBI, Zomato, Amazon, Paytm, YouTube Suffered Massive Outage


Goyal thanks to Jio, Contemporary Competitors

Further, Goyal also thanked his contemporary competitors labelled the day as the company’s new ‘Day Zero’.

“Today is a big day for us. A new Day Zero. But we couldn’t have gotten here without the incredible efforts of India’s entire internet ecosystem. Jio’s prolific growth has set all of us up for unprecedented scale. Flipkart, Amazon, Ola, Uber, Paytm – have also over the years, collectively laid the railroads that are enabling companies like ours to build the India of the future. We stand proudly and humbly on the shoulders of giants, and we thank everyone for giving us, and so many other startups, the opportunity to look ahead into the future,”

-he wrote.