Zomato IPO is the biggest buzz in the stock market today, as its maiden IPO opens for subscriptions today with huge anticipation that it may set a record opening.
The IPO from the food delivery technology platform will be the second largest share sale after the ₹ 10,355 crore IPO from SBI Cards and Payment Services last year by mega startup Zomato. It will also be the first Indian gigantic startup to go public.
The Initial Public Offering will include an offer for sale of ₹ 375 crore by the promoter, Info Edge India.
In its runner up to the Initial Public Offering, Zomato raised ₹ 4,196.51 crore from 186 anchor investors. As Zomato’s IPO opened today, the huge buzz and anticipation reflected in tweets by Deepinder Goyal, the founder of the food delivery app.
Zomato set to create great investor buzz
“Just ordered a triple breakfast @zomato. Stress eating,” tweeted Mr Goyal, whose startup is the first food delivery company to pursue a public listing in India. That was an hour after his first tweet – no words with just a smiley.
Zomato’s ₹ 9,375 crore initial public offering (IPO) will be open for three days. The restaurant aggregator and food delivery company has priced its IPO at ₹ 72-76 per share.
Many in the corporate world showered wishes and praise as the IPO opened today.
“Make it large Deepi ! Best wishes for superb listing. Rooting for you man,” posted PayTM founder Vijay Shekhar Sharma.
“All the best. My stress eating is aided by Zomato. Help with a share handout to special customers like me who share your coping behavior, to ease my discomfort,” wrote Monica Jasuja, Vice President, Product Management, Mobile Financial Solutions at Comviva.
“All the best Deep. And I order too much on Zomato…. Way too much!” – wrote Radhika Gupta, CEO, Edelweiss Asset Management Limited.