Zomato shares listing today; Grey market premium rises to 35%
Zomato shares will be listed on the stock exchanges -- NSE and BSE on Friday. Zomato is an online food ordering platform. The company finalised the allotment of its IPO on Thursday evening.
The equity shares of Zomato were likely to be listed on the stock exchanges on July 27 (Tuesday). However, the company decided to postpone the date.
"Effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities," the BSE said in a notice.
The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on July 16. The company had fixed the price at the higher end of the offer band of Rs 72-76 for 71.92 crore shares.
In the grey market, Zomato shares are commanding a premium of 35 to 40 per cent over the issue price. Ahead of the listing, Zomato IPO GMP today is Rs 27. Zomato shares may get listed at around 35 to 40 per cent listing gains.
The IPO of Zomato was India's biggest initial share sale offer since March 2020. The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020.
The Zomato IPO comprised a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.
Zomato has said it will utilise the IPO proceeds for funding organic and inorganic growth initiatives and general corporate purposes.
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