Mumbai. The much awaited Zomato IPO made its premature listing in the Indian stock market today and has garnered huge returns to its investors by securing decent opening as expected. Earlier, the recent IPOs of GR Infraprojects and Clean Science and Technology also got good openings.
During the listing on the National Stock Exchange (NSE) of the Indian stock market, Zomato got an opening at 116 levels with a premium of 53 percent. It may be noted that the base price of the shares of the company was Rs 76. Shares of Zomato, like other stocks, gained a little bit of highs and lows in the day’s trading, but on the first day of its listing, Zomato almost maintained its level and closed at 125.30. In its day-long trading, Zomato touched a low of 115 and a maximum of 138.90.
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It is to be known that ever since the country’s well-known food delivery company Zomato announced its IPO, investors in the stock market were taking a lot of interest in its IPO. The impact of this investor interest was also seen in the form of its bumper subscription.
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Zomato’s IPO had garnered 38.25 percent subscription. The Rs 9375 crore Zomato IPO was open for subscription by investors between July 14 and 16. Zomato’s market cap crossed Rs 1 lakh crore with the listing. Zomato will use the proceeds of the IPO for its growth initiatives and for general corporate purposes.
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