Zomato Listing On July 23: What Is Expected On Listing Gains?

The internet company which received a lot of interest with respect to the subscription is also a most sought after for the likely listed gains. The 4th top IPO in terms of the issue size (Rs. 9375 crore) has brought forward the listing date and also as the share allotment process is completed by the food delivery major, the grey market premium has gone up by 26-29%.

Zomato Listing On July 23: What Is Expected On Listing Gains?

As per the data from IPO Watch which track the IPOs in the unlisted market, the stock of Zomato was available at a premium of Rs. 20-22 in the grey market. This means a trading price of Rs. 96-98 per share, a premium of 26-29 percent over the issue price of Rs. 76.

Typically the grey market premium suggest of the lucrativeness of the IPO stock and the premium it is commanding. The trading in the grey market starts after the IPO price band is decided and is being carried out until the shares listing is completed.
So, as the share allocation process is completed the eligible investors will be credited with the shares of Zomato in their portfolio by today and likewise the money to the ineligible investors shall be refunded.

Further, of all the IPOs with an issue size of over Rs. 5000 crore, Zomato raked in the highest subscription. The issue was subscribed 38.25 times during the IPO offer period of July 14 to July 16, 2021.

GoodReturns.in