Shares of Toast Inc bounced in excess of 63% in their New York Stock Exchange debut on Wednesday, esteeming the restaurant software provider at almost $32.6 billion.
The stock opened at $65.26, contrasted and its initial public offering price of $40 per share.
The Boston-based company, which makes software to assist restaurants with online and in-store orders, sold 21.7 million shares in its IPO, raising about $869.6 million. Its IPO was priced over a previous designated price scope of $34 to $36 per share.
Toast’s posting comes when demand for online food delivery has soar because of COVID-19 lockdowns, with homebound clients requesting more through DoorDash, Uber Eats, Grubhub and different administrations.
The 10-year old company assembles software that assists restaurants with overseeing online orders, work an on-demand delivery network and integrate payments.
Goldman Sachs, Morgan Stanley and J.P. Morgan were the lead financiers for Toast’s IPO.