A food-delivery app having no assets, never made profit , has been burning cash since it’s founding is valued at $8 Billion . The source code & business model can be copied easily, already has competitors like Swiggy. Highly Overvalued stock. https://t.co/IjtmUugvqZ..— Liberterian (@liberteriannew) July 23, 2021
Today’s Special: Zomato Starts Trading At ₹116, A Premium Of 53%— NDTV Videos (@ndtvvideos) July 23, 2021
NDTV’s Sakshi Bajaj reportspic.twitter.com/BUU9elibHG
The shares of the food startup opened at 116 at a premium of 53% compared to the issue price of 76.
The founder of Zomato shares it’s expression as the optimism of the company as it’s foresightedness.
Till the morning the shares of the company were at 134 rupees as of 77.6% in Bombay stock exchange whereas rupees 135 at 77.5% in National stock exchange.
The investing companies received a spontaneous response to Zomato’s Rs 9,375 crore offer.
The IPO (initial public offering) of the company which is a food delivering company is the second largest IPO after Coal India share sale back in October 2010.
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