Shares of Zomato were trading at ₹88.5 apiece, up by 23% over the tentative price band of ₹70-72 a share, The Financial Express reported. This comes after SEBI formally approved Zomato's application for an initial public offering (IPO). The IPO will comprise a fresh issue of ₹7,500 crore and an offer for sale of ₹375 crore by Info Edge.