Zomato IPO frenzy continues to stir the market

Indian food aggregator and delivery platform, Zomato goes public. The company has listed its shares both in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This food delivery unicorn becomes the first of its kind to showcase a stock market debut.

Zomato IPO Details

The company opted for a book built issue IPO and opened the bids on the 14th of July with a price band of $.94-$1.02 (Rs 72-76) per share. The share prices soared to almost a 25% premium over the IPO price. Retail investors were allocated 10% of the net offer whereas the Qualified Institutional Buyers(QIB) had a 75% hold. The Non-Institutional Investors obtained the remaining 15%. The minimum order quantity for Zomato has been fixed at 195 shares for retail investors.

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