Zomato IPO Day 1: The food delivery company is stealing the limelight in the share market on its debut day on Friday. Its shares were listed at 53 percent more than the IPO price of Rs 76. Company CEO Deepinder Goyal congratulated his team and also thanked Flipkart, Amazon for their efforts.
Zomato IPO Boosted Company’s Market Value
Furthermore, the food-tech unicorn also saw a surge in its market value on a listing day. Zomato is now a company with a market value of Rs 1 lakh crore. With this company has entered the top 100 listed firms.
“Swiggy And Zomato Are Best In The World, “Says Company CEO
Zomato is one of the most popular food delivery companies in India other than the Bangalore-based Swiggy. The two are giving cut-throat competition to each other. Despite this, the two are very far away to become world-class as per the customer’s standard.
On day one of Zomato IPO listing, Deepinder Goyal confessed the same but also said succeeding in a market like India is itself an exceptional thing.
On the day of our listing, here’s something I want to share with our shareholders, and India’s startup ecosystem. https://t.co/BAIM8bTATY
The future looks exciting. I don’t know whether we will succeed or fail – we will surely, like always, give it our best.
— Deepinder Goyal (@deepigoyal) July 23, 2021
There are a lot of investors and their response has given us confidence for the future business in India.
Experts Believe Zomato IPO Price Is Too High
With the stocks listing at high prices, this is a golden opportunity for domestic investors. But experts in the stock market believe the price of shares is too high and have also estimated the true value to be Rs 41. Considering this, investing in Zomato IPO may not be the right decision for value investors.
The company was founded in 2008 and is operational with more than one lakh delivery partners almost all across the globe.