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Grubhub pricing shows investors hungry for shares

GrubHub home page
Source: GrubHub
GrubHub home page

Investors are ordering a big meal as Grubhub heads for its initial public offering.

The online food ordering service announced Thursday that it would price its shares at $26, above its earlier estimate of $23 to $25 per share. The IPO raised about $192.5 million.

(Watch: Grubhub biz tremendous growth story: Cramer)

Grubhub also increased the number of shares it will offer to 7.4 million, up from 7.03 million shares.

The company's shares will start trading on Friday on the New York Stock Exchange under the symbol "GRUB."

Citigroup and Morgan Stanley were the lead underwriters to the offering.

Reuters contributed to this report.

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