Consider these 9 things before investing in mutual funds!
What is the right way to invest in mutual funds? How do mutual funds work? What kind of risk is involved? Which fund is right for whom? What things should be kept in mind before investing? Watch this video to know-
Food delivery aggregator Zomato crossed Rs 1 lakh crore in market capitalisation on the listing day on Friday, surpassing Tata Motors, Indian Oil Corporation, Bharat Petroleum Corporation, Coal India to become India’s 43rd most valuable company in the country.
The market capitalisation of the company was hovering at Rs 1,03,870.18 crore at around 10.05 am (IST) after making a strong debut on bourses. Shares of Zomato traded at Rs 138, up 81.58% over the issue price of Rs 76. The scrip got listed at Rs 115.
India’s first unicorn IPO
With Zomato being India’s first unicorn initial public offering (IPO) to hit the D-Street marks the beginning of a new era. The issue gave investors an opportunity to participate in India’s booming start-up ecosystem and invest in new-age companies that are challenging traditional businesses and driving consumption from the ease of a smartphone.
Investors pumped in a little over Rs 2.09 lakh crore for the Rs 9,375 crore IPO of the food delivery company. Making it among one of the highest oversubscribed large-sized IPOs that raised more than Rs 5,000 crore in over a decade.
The issue received a stellar response from investors, subscribing 38.25 times during July 14-16. The portion reserved for qualified institutional buyers (QIB) was subscribed 51.79 times, followed by non-institutional investors with 32.96 times subscription, and retail part 7.45 times.
As of December 31, 2020, Zomato has established a strong footprint across 23 countries with 131,233 active food delivery restaurants, 161,637 active delivery partners, and an average monthly food order of 10.7 million customers.
For nine months ended December 31st, 2020, the company reported total revenue of Rs 1,367.65 crore compared to Rs 487.04 crore in FY18. It is a cash-burning company as it posted a loss of Rs 682.2 crore as of December 31, 2020, compared to a loss of Rs 106.91 crore in FY18.