The blue-chip FTSE 100 index dropped 1.1%, with oil stocks, miners and financials among the worst performers.

Zoom became a household name and an investor favorite as the pandemic clamped down on activity and businesses and schools adopted its services to hold virtual classes and office meetings.

The Relative Strength Index of the stock stood at 40.91 on Friday.

Tatas are believed to have submitted a higher bid than rival Ajay Singh of SpiceJet. The Tata bid is about Rs 3,000 crore higher than the reserve price set by the government and about Rs 5,000 crore more than the bid by Singh, a report in this newspaper cited sources as saying.

On the technical charts, the RSI of the stock stood at 76.14.

After the solid listing pop, many investors, who have missed the bus, may be mulling an entry into the counter for long-term play. However, market experts and analysts advise them to wait and watch.

Promoters held 54.8 per cent stake in the company as of 30-Jun-2021, while FII and DII ownership stood at 24.94 per cent and 9.07 per cent, respectively.

Online food delivery firm Zomato, in July, made a stellar debut on the bourses here setting the stage for domestic startups to ride on the current IPO wave.

A total of 68,984 shares changed hands on the counter till 12:50PM (IST).

Oyo is looking to raise more than $900 million through fresh issuance of shares while the rest of it would be through secondary share sale via an offer for sale.