Prashant Khemka, founder of White Oak Capital Management, on Friday, said that Zomato listing is historic and it’s an exciting moment for the equity market.
Zomato made a stellar debut on bourses on Friday, listing at Rs 116.00 on the NSE, garnering a 52.63 percent premium over its issue price of Rs 76.
On the Bombay Stock Exchange (BSE), the food delivery Unicorn got listed at Rs 115, a premium of 51.32 percent. The valuation of the company soared to Rs 91,004 crore.
Speaking in an interview with CNBC-TV18, Khemka said, “The euphoria is well justified. It is a very historical moment for the Indian equity market. It is a very exciting moment and hopefully bodes well for times to come for many more such new listings of new-age technology companies. This would open the doors for those to list, going forward.”
On valuation, he said, “Many of new-age companies would generate growth from their existing activities and adjacencies that they might enter into that would certainly justify the valuation, cannot talk about any specific company necessarily, but there would be failures and there will be great successes as has been the case with NASDAQ companies and the dot coms of the late 90s as well.”
For the entire interview, watch the video.