Earlier, the IPO of Zomato raised more than 9,000 crore rupees before closing on July 16.
One of the prominent online food delivery platforms, Zomato has made its market debut after a terrific response to its initial public offer (IPO).
Talking about the development, BSE said in a notice that “Effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.”
Earlier, the IPO of Zomato raised more than 9,000 crore rupees before closing on July 16. The company had hinted about the possible listing on the stock exchange between July 23-27.
Since March 2020, the IPO of Zomato is India’s biggest initial share sale offer. It was subscribed over 38 times by the end of the final day of the issue. The price was fixed at the higher end of the offer band of Rs 72-76 for 71.92 crore shares by the company.
The stock exchange data showed that the bids were received for 2,751.25 crore shares against 71.92 crore shares on offer.
The qualified institutional buyers bid almost 52 times the quota reserved for them. On the other hand, non-institutional investors sought 640 crore shares against their quota of 19.43 crore.
Apart from this, retail investors bid 7.45 times against the 12.96 crore shares reserved for them. The shares reserved for company employees was the only category that wasn’t fully subscribed.