Zomato sold shares in IPO at only half their worth, according to big brokers3 min read . Updated: 30 Jul 2021, 02:46 PM IST
- Zomato’s bold bet of plunging into the public markets gives it the advantage of intangibles such as scarcity premium et al, giving it a valuation that is three times its close competitor
Zomato Ltd's shares were valued at Rs45 a piece a year ago, Rs58 six months ago and Rs76 in its initial public offering (IPO). Trading in the grey market ahead of the IPO suggested the offer pricing was stiff, and there was hardly any money left on the table. But to everyone’s surprise, the shares listed at Rs126, and now trade at Rs136 apiece.
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