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Zomato IPO, Share allotment, GMP and listing date

Zomato's IPO – Initial public offering, was oversubscribed more than 40 times on the last day of the offering which was led by a strong response from the Qatar Islamic Bank and retail category. It was opened from 14 to 16 July. On the third day which was also the day of  Zomato IPO, It received offers for 29.04 billion shares for an initial public with an offering size of 719.23 million.
The QIB- Qualified Institutional Buyer category was subscribed 55 times, and the Retail category was subscribed about 8 times. Non-institutional investors are 34.80 times higher than employees, 62%.
According to market observers, Zomato's Grey Market Premium (GMP) has worked on all things considered in the ₹16-18 territory. The grey market is an unofficial platform, where trading starts after the declaration of the IPO price range until the IPO shares are listed.

The issue consists of a Rs 375 million offer to sell by the company's first investor, Info Edge, and a new ₹9000 crore issue. Link Intime India Pvt Ltd. is the registrar for Zomato's IPO and based on the business share allocation which is likely to be completed on Thursday i.e, July 22, Zomato shares are probably going to be recorded one week from now i.e July 27 on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).)
Zomato raised ₹ 4,196 crores from several prominent institutional investors as part of the anchor book allocation. It has allocated 552.17 million equity shares to anchor investors for Rs 76 per share. The governments of several countries like Singapore, Blackrock, Goldman Sachs, and Abu Dhabi Investment Authority are some of the investors who participated in the main book.
The success of Zomato's IPO could favor upcoming public offerings for New Age companies like Paytm, Mobikwik, and Policy Bazaar. Companies like Paytm and Mobikwik have recently filed their draft documents with market regulators like SEBI, Nykaa, PolicyBazaar, and others are also expected to do so soon.

Credits- Livemint,

            The Siasat Daily

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