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After a fantastic reception to its IPO last week, Zomato will list its shares today.

After a fantastic reception to its IPO last week, Zomato will list its shares today.

Key sentence:

  • Zomato will begin exchanging on the stock trades on Friday, four days before its prior plan.
  • Zomato shares were citing some hidden costs of around ₹23 in the dim market in front of the IPO.
  • The Zomato IPO opened for membership on July 14 in a value band of ₹72-76 for each offer and shut on July 16. 

Zomato will begin exchanging on the stock trades on Friday, four days before its prior plan, after a guard reaction to the food conveyance organization’s IPO last week. “Compelling from Friday, July 23, 2021, the value portions of Zomato Limited will be recorded and conceded to dealings on the Exchange in the rundown of ‘B’ Group of Securities,” BSE said in a notification. 

BSE said in a notice on Friday that the bourses will hold a unique pre-open meeting for the stock for 15 minutes in front of its posting at 10 am. 

“With the further developed suppositions in the essential and more extensive market, I expect Zomato may list in three digits. Zomato’s posting will set a benchmark for forthcoming startup IPOs,” Abhay Doshi, originator of UnlistedArena.com, was cited as saying by Mint Live. 

Zomato shares were citing along with some hidden costs of around ₹23 in the dim market in front of the IPO, proposing the chance of posting gains; Mint Live revealed referring to showcase onlookers. 

Zomato IPO was India’s greatest introductory offer deal offer since March 2020. The IPO, which will give Zomato a valuation of ₹64,365 crores, is being promoted as the second-greatest since SBI Cards and Payment Services’ ₹10,341 crore issue in March 2020. 

Also read: Amit-Panghal-and-three-other-boxers-are-given-byes-Indian-pugilists-face-a-difficult-draw-overall.

The distribution interaction for Zomato’s offers was directed on Thursday for financial backers who partook in the organization’s first sale of stock (IPO) last week. Zomato fixed the cost at the higher finish of the offer band of ₹72-76 for 71.92 crore shares. 

Qualified institutional purchasers (QIBs) bid just about multiple times the quantity saved for them; non-institutional financial backers looked for 640 crore shares against their standard of 19.43 crore, and retail financial backers bid 7.45 occasions against the 12.96 crore shares apportioned for them. 

The lone class that wasn’t completely bought in was the offers held for organization representatives as they looked for only 62% of the 65 lakh shares saved for them. 

The Zomato IPO opened for membership on July 14 in a value band of ₹72-76 for each offer and shut on July 16. As per the data given in the draft distraction plan, the Zomato IPO included a new issue of value shares worth ₹9,000 crores and an offer-available to be purchased (OFS) worth ₹375 crores by existing financial backer Info Edge (India), which is the parent organization of Naukri.com. 

Zomato has said it will use the IPO to finance natural and inorganic development drives and general corporate purposes.

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Patrick Edward

Written by Patrick Edward

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