Zomato IPO Subscription: After obtaining an oversubscription of 180 times than the original offering, the Zomato IPO (Initial Public Offering) is expected to trade on the Indian Stock Exchanges at over 100 a share price. According to market experts and grey market public issue premiums, both financial and short-term sentiment favor a solid price with a minimum premium of 35-40 percent. Zomato IPO GMP today is 27, which is 4 more than yesterday's grey market premium of 23. According to stock market experts, Zomato shares can trade between 35 and 40 percent, with a profit that also reflects a triple-digit IPO quote. The company's shares of the online food delivery platform will be listed in NSE and BSE today.
Speaking of potential listing gains from Zomato's IPO; Abhay Doshi, the founder of UnlistedArena.com, said: "With the improved sentiments in the primary and broader market, I expect Zomato may list in three digits. Zomato's listing will set a benchmark for upcoming startup IPOs."
Abhay Doshi, who trades in IPOs and unlisted stocks, added that the Zomato IPO issue price is 72 to 76, which means that if we add 27 to the public issue price, the expected listing price will have become to 103 ( 76 + 27 rupees).
On what the post-listing strategy should be, Avinash Gurashkar, research director at Profitmart Securities, said: "My advice to the lucky bidders of the Zomato IPO is to record earnings on the listing date."
Zomato IPO details.
After the shares are awarded on July 22, 2021, a refund will begin today for unlucky bidders who failed to make a reduction in the list of lucky bidders, and today the shares will be credited to the Demat account of the lucky bidders.
Credit- Livemint
Also read- Investments Of Bank in IPOs hit a Four-Year High
Credit- Livemint
Also read- Investments Of Bank in IPOs hit a Four-Year High
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