Video Discription |
Zomato shares were trading with a weak premium in the grey market just ahead of its Rs 9,375-crore IPO. The public issue will hit Dalal Street today, at the price band of Rs 72-76 per share. On Wednesday morning, Zomato shares were trading at a premium of Rs 5-8 apiece over IPO price of Rs 76, according to the people who deal in shares of unlisted companies. Zomato, India’s homegrown food delivery unicorn, would be the first of many Indian tech startups to list on the stock exchanges. Naukri.com’s parent company, Info Edge holds a stake of about 18.55 per cet in the food delivery platform. The average cost of acquisition of equity shares for the selling shareholders is Rs 1.16 per equity share. The weighted average return on net worth for the last three fiscals is 49.09 per cent.
Research and brokerage firms such as Motilal Oswal Financial Services, ICICI Direct, and Ventura Securities have ‘subscribe’ rating, while Kotak Securities and Axis Securities have not given ratings to the IPO.
Read More: https://www.financialexpress.com/market/ipo-news/zomato-ipo-opens-july-14-check-grey-market-premium-should-you-subscribe-for-listing-gains/2288396/
Anchor: Palak Yadav
Reporter: Financial Express
Video Editor: Kshitiz
Article URL: https://www.financialexpress.com/market/ipo-news/zomato-ipo-opens-july-14-check-grey-market-premium-should-you-subscribe-for-listing-gains/2288396/
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