Online food delivery and restaurant platform Zomato has advanced its listing date by four days from July 27 to July 23 (Friday), the company informed. The company has finalised the IPO share allotment on Thursday ahead of the much-awaited listing.
Zomato’s initial public offering (IPO) last week was an instant hit. The IPO was subscribed 40.38 times, generating a demand of Rs 2.13 lakh crore, the most in 11 years and the third highest in Indian capital market history. The quota for qualified institutional buyers (QIBs) was subscribed 54.71 times, while that of the non-institutional investors was subscribed 34.80 times. The retail quota was subscribed 7.87 times.
The IPO opened on July 14 and closed on July 16. Zomato shares with face value of Re 1 were offered in a price band of Rs 72-76 apiece. At the upper end of the price band, the company will command a market capitalisation of nearly Rs 64,500 crore.
Zomato’s unlisted shares were reported to be trading at a price of Rs 22-23, over the issue size of Rs 72-76. The shares were trading at around Rs 95-99 apiece in the grey market, signalling a premium of over 30 per cent over the IPO price, according to reports. Grey market premium is an indicator that investors follow to understand the likely listing gain that an IPO can offer.
Zomato had raised Rs 4,197 crore from 186 anchor investors ahead of the IPO by allocating 552.2 million shares at Rs 76 apiece.
It is the first Indian unicorn to go public. Others like Paytm, MobiKwik, Policybazaar and Nykaa will soon follow the foodtech company founded by Deepinder Goyal and Pankaj Chhadah in 2008.