Zomato listing: Allotment of shares will be done today while listing of shares tomorrow

The stock of food delivery platform Zomato will be listed on the stock exchange only tomorrow. Earlier it was to be listed on July 27.
Image Credit: Abp news
Image Credit: Abp news

The stock of food delivery platform Zomato will be listed on the stock exchange only tomorrow. Earlier it was to be listed on July 27. The company will list it in advance. On the other hand, its premium has increased by 30-35% in the gray market.

The company has to complete many processes

However, the company still has to complete all the processes before listing. There are processes like allotment of shares, credit of shares, and refund. You can see the allotment of shares on the website of Link Intime. You have to enter all the details in it. Due to early listing, its premium has suddenly increased in the gray market. It is trading around Rs 100 in the gray market. That is, it is trading at 30-35% more than the issue price. This means investors can get a good profit in it on the day of listing.

Benefits of listing stocks

By the way, all the shares that have been listed in the last 1 year have given good returns to the investors after the listing and after that. The sentiment in both the primary and secondary markets is currently in a strong uptrend. Therefore, it is expected that the stock of Zomato may also get listed at a premium. Although its stock had already come at a more expensive price and due to this it also got less response from investors.

Has been a consistent loss-making company

Image Credit: Moneycontrol
Image Credit: Moneycontrol

Zomato is a consistent loss-making company. The company had brought the issue at a price of Rs 72 to 76. Through this, it had raised Rs 9,375 crore from the market. It got 38 times a response. In this, the share of qualified institutional buyers (QIBs) was filled at 54.71 times while that of non-institutional investors was 34.80 times. Retail's share was filled only 7.87 times.

The market cap may be Rs 64,500 crore

At a price of Rs 76, the company's market capitalization will be Rs 64,500 crore. This is higher than all the listed quick-service restaurant chains in India. Also, it is also higher than the market cap of listed hotels in the country. There are 20 listed hospitality companies in the country and their total market cap is Rs 45,000 crore.

Like and Follow us on :

Related Stories

No stories found.
Since independence
www.sinceindependence.com