New Delhi | Jagran Business Desk: Zomato became the first desi unicorn on Friday to debut in the stock market. Upon reaching this feat, the popular food aggregator’s founder Deepinder Goyal took to Twitter and shared an image that read: “Proud of the past. Thankful for the present. Ready for the future.”
"We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of long-term success of the company," Zomato's chief executive Deepinder Goyal had told the news agency AFP on Friday.
The per share price was listed at ₹115 on BSE, a 51.32 per cent premium to the issue price of ₹76. On NSE, the stock made a debut at ₹116, up 52.63 per cent.
Just in the opening ten minutes, the Zomato shares went up by 80 per cent, taking its market capitalisation above the one trillion rupee mark. Zomato nearly doubled in value in debut, as its shares surged over 80 per cent to hit high of ₹138.90, finally closing at ₹126 after Friday's trading.
Zomato now among Top 100 in valuation terms
Zomato’s market valuation stood at ₹65,000 Crore that made it to also debut under Top 100 listed companies in the Indian stock market in terms of market valuation. This was over Rs 19,000 Crore more than the 100th most valued company in the Indian stock markets.
Zomato is among India’s top food aggregators that has a presence in 23 countries in total. According to the latest figures released by the company, on an average 3.21 Crore monthly active users visited Zomato in Finance Year 2021. The company says that it has close to 3,90,000 active restaurants listed on its platform with close to 1,70,000 delivery partners across 525 cities in India.
"Zomato's IPO will usher listings of a significant number of digital technology companies in the coming quarter. It will naturally give a solid boost to entrepreneurship, particularly the Startup India movement, enabling wealth creation and deepening our capital markets," S Ramesh, Managing Director and CEO at Kotak Mahindra Capital was quoted as saying by Economic Times.
Around 30 more Indian companies have announced plans to list their shares this year.
Posted By: Mukul Sharma