• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

A day before its debut in stock market, Zomato's app and website crashed

|
Google Oneindia News

New Delhi, July 22: In what comes as a recent development, Zomato's mobile application and its website have crashed, just a day before its listing on the Bombay Stock Exchange (BSE). It can be seen that Zomato is an Indian multinational restaurant aggregator and food delivery company.

    Zomato lists at 53% premium over IPO issue price| Zomato bumper listing| Oneindia News

    Zomato

    Earlier, Zomato's IPO was launched and it generated interest within the investor community and beyond. Market experts had a mixed opinion on the prospects of Zomato's stocks. Most of it can be attributed to the fact that the company is still incurring huge losses and it is predicted that the downward momentum will continue given its 'significant investments' to prime pump its growing business.

    Report claims Dalai Lama's advisers, NSCN leaders listed as potential targets of PegasusReport claims Dalai Lama's advisers, NSCN leaders listed as potential targets of Pegasus

    "Effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of ''B'' Group of Securities," the BSE said in a notice.

    The company fixed the price at the higher end of the offer band of Rs 72-76 for 71.92 crore shares. The IPO of Zomato was India''s biggest initial share sale offer since March 2020. While qualified institutional buyers or QIBs bid almost 52 times the quota reserved for them, non-institutional investors sought 640 crore shares against their quota of 19.43 crore.

    BJP President JP Nadda slams TMC, says its culture is to make noise, tear papers in ParliamentBJP President JP Nadda slams TMC, says its culture is to make noise, tear papers in Parliament

    Retail investors bid 7.45 times against the 12.96 crore shares reserved for them. The only category that wasn't fully subscribed by the shares reserved for company employees, who sought just 62 per cent of the 65 lakh shares reserved for them.

    The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share.

    For Daily Alerts
    Get Instant News Updates
    Enable
    x
    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    X