Zomato : The stock market likes the taste of Zomato. Food delivery startup Zomato has made a strong entry in the stock market. The great listing of the company has surprised all the experts. Because most of the market experts were estimating the listing of this IPO for a maximum of Rs 100. Zomato overtook Tata Motors-Britania on the very first day itself.
The issue price of Zomato IPO was Rs 76 per share.
Whereas on Friday it was listed on BSE for Rs 115. At the same time, this stock was listed at Rs 116 on NSE with a premium of 52.63 percent. The company’s market cap has seen a huge increase due to the excellent listing.
Even after listing, there was a boom in it.
Investors who were not allotted shares in the IPO, started buying it after listing. Due to which this price rose to Rs 138.90 on NSE after a few minutes of listing. Meanwhile, the market cap of the company also increased beyond Rs 1 lakh crore.
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Zomato shares closed at Rs 126 at the end of trading on Friday
With the entry into the stock market, Zomato has left behind many big companies in terms of market cap. The stock of Zomato closed at Rs 126 at the end of trading on Friday. Accordingly, its market cap is currently Rs 98,300 crore. Whereas during the business the figure had crossed Rs 1 lakh crore.
It has become the 48th largest company in the country in terms of market cap.
It has overtaken many big Nifty companies including Tata Motors in the market cap. In the market cap, Zomato has overtaken big companies like Tata Motors, SBI Card, Adani Total Gas, Coal India, Hindalco, DLF and Britannia.
The market cap of Tata Motors is Rs 98,214 crore.
Whereas the market cap of Zomato is Rs 98,300 crore. Not only this, the market cap of Zomato had increased to Rs 1,08,067 crore on the day of listing itself. During this, Zomato had also left behind BPCL, IOC and Shree Cement. However, after the closure of the market, these companies are ahead of Zomata by a very small proportion.
There will be many opportunities to make money in Zomato’s stock.
It is worth noting that the lucky people who have been allotted its shares in the IPO have got more than 50% return on the very first day itself. Those who could not get the shares were disappointed. But experts say that there will be a lot of opportunities to make money in the stock of Zomato.
Online food delivery market is on its rise in India
Let us tell you, the IPO of Zomato was open between July 14 and 16. Its IPO was subscribed 38 times. The company had a plan to raise Rs 9,375 crore through IPO. Experts say that the company is in a very good position in an emerging market like India. The online food delivery market in India is at its peak.
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