Zomato Listing Zomato Made 18 People Millionaires See Their Names Here – Zomato Listing
Online food delivery company Zomato has created a tremendous record by launching its IPO in the market. After the listing, the company made 18 people millionaires in a single day.
New Delhi. Online food delivery company Zomato has created a tremendous record by launching its IPO in the market. After the listing, the company entered the stock market on Friday and performed tremendously. Zomato’s stock was listed at a premium of 53 per cent over its issue price. It also made 18 people the owner of Dollar Millionaire i.e. one million dollars in a single day. The company’s IPO price started from Rs 76 to Rs 115.
Zomato made them rich
The value of shares and Esops of Zomato Company’s Co-Founder and Chief Technology Officer Gunjan Patidar reached Rs 363 crore. Another co-founder and head of New Businesses Mohit Gupta’s Esops became worth Rs 195 crore. The company’s cofounder and CEO Deependra Goyal’s worth reached Rs 4,650 crore ($ 624 million). Deependra holds a 5.5 per cent stake in Zomato, which also includes Esops.
READ MORE:- Golden opportunity to invest in Paytm IPO, paytm is bringing the country’s largest IPO
Zomoto beats these giants
Zomoto’s bumper earnings. Due to which its market value became Rs 98,732 crore. In terms of earnings, Zomato has overtaken even giant companies like Tata Motor, Mahindra & Mahindra and Coal India. The valuation of Zomato’s IPO was estimated by experts to be around Rs 60,000 crore. But the IPO received 38 times more bids, which surprised everyone.
READ MORE:- RBI’s new rule regarding fixed deposits, will have to bear heavy losses
what is esop
Many large companies give an opportunity to senior staff to buy their shares through a special procedure. This is called Employees Stock Option Plan (ESOP). Under this process, the company in a way gives its employees the right to buy their shares. The employee can buy shares of the company by exercising the right granted under this process. However, the company does not compel an employee to buy shares.
#Zomato #Listing #Zomato #People #Millionaires #Names #Zomato #Listing