Shares of the country’s leading food startup – Zomato made a strong market debut on Friday, July 23, closing its very first day of trade at Rs 126 per share on the BSE. The shares jumped 65 per cent from the initial public offer (IPO) price of Rs 76. Zomato ended the first day of trade eight per cent above the listing price and had a market capitalization of Rs 98,221 crore, upon closing. (Also Read: Today’s Special: Zomato Starts Trading At ₹ 116, A Premium Of 53% )
Shares of Zomato settled 65 per cent or Rs 49.86 higher at Rs 125.85 apiece on the BSE. The shares opened at Rs 116 – a premium of Rs 53 per cent compared to the issue price of Rs 76. During the trading session, Zomato’s shares jumped as much as 83 per cent from the issue price to hit an intraday high of Rs 138.90. It inched to an intra day low of Rs 114, during the session.
Zomato achieved a market capitalisation of ₹ 1.08 lakh crore on the BSE at the day’s highest level, making it one of the few listed companies to enter ₹ 1 lakh crore market capitalisation club on its market debut.