Zomato 's Entry In Sensex: In the year 2021, investors saw many new-age digital companies launching their IPOs. One of these firms was Deepinder Goyal-led food delivery company Zomato. It offered its Rs 9,375 crore IPO in July 2021. Zomato's IPO in 2021 received a great response from investors. It received 38.25 times subscription, the highest among IPOs valued at more than Rs 5,000 crore in the last 13 years. Now after more than 3 years of listing on NSE , BSE , Zomato is set to make its place in the Sensex index.

Whose place will Zomato take?

The BSE on Friday announced that the food delivery company's stock will replace JSW Steel on the 30-share Sensex on December 23. Apart from Zomato's entry on the Sensex index, 6 other securities will make their place in the BSE 100 index.

These include Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson International, and PB Fintech.

When did the IPO come

Zomato shares were listed on the stock market on July 23 in 2021. It was listed on NSE at Rs 116, which was a 52.63 percent premium over its IPO price of Rs 76. The listing price on BSE was Rs 115, which was 51.32 percent higher. A year after listing i.e. in 2022, Zomato shares had declined by about 60 percent on a YTD basis.

BUY CALL for the stock

According to a recent report by global brokerage firm Morgan Stanley, Zomato's stock is "likely to double in 3 to 4 years". Rating it 'overweight' on the stock, Morgan Stanley has set a target price of Rs 355 for Zomato. The stock closed at Rs 264.15 on the BSE on Friday.