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Zomato IPO: GMP improves, all eyes on allotment date

Zomato IPO subscription: Those who have bid for the Zomato IPO, would be eagerly waiting for Zomato IPO allotment on 22nd July 2021 as listing gain of 18 per cent predicted by the grey market is definitely a positive development for them. Photo: Zomato websitePremium
Zomato IPO subscription: Those who have bid for the Zomato IPO, would be eagerly waiting for Zomato IPO allotment on 22nd July 2021 as listing gain of 18 per cent predicted by the grey market is definitely a positive development for them. Photo: Zomato website

  • Zomato IPO GMP (grey market premium) today is 14, which is 4 up from yesterday's Zomato share price in the grey market

Zomato IPO (Initial Public Offering) subscription registered robust growth on the last date of bidding and it finally ended at 38.25 times of its public offer. According to the market observers, rise in Zomato IPO GMP in the last two days has played a major role in rise in Zomato IPO subscription by 16th July 2021. They said Zomato IPO grey market premium today is 14, which is 4 up from yesterday's Zomato share price in the grey market.

Expecting Zomato IPO listing at reasonable gains Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Grey market premium of an IPO is considered a short-term indicator about the fate of an IPO. However, it is completely unofficial and hence bidders are advised to look at the financials of the company too. In simple terms, grey market premium is an early estimate of the market about the listing gain in regard to the IPO."

So, the rise in Zomato IPO GMP today means one can expect Zomato IPO listing at around 90 — means around 18 per cent listing gains for the lucky bidders. So, those who have bid for the Zomato IPO, would be eagerly waiting for Zomato IPO allotment on 22nd July 2021 as listing gain of 18 per cent predicted by the grey market is definitely a positive development for them.

On how much listing gain one can expect from the Zomato IPO Avinash Gorakshkar of Profitmart Securities said, "One can expect 10-15 per cent listing gain from Zomato public offer as its fundamentals are also strong and in the unlock activities, it has limited competitor to claim share in its business pie." However, Gorakshkar advised lucky bidders to book profit on the listing date rather holding it for long-term.

Standing in sync with Avinash Gorakshkar; Abhay Doshi, Founder at UnlistedArena.com said, "The ability to reach at doorstep of any customer is a great strength which may open the doors of new business avenues. However, such disruptive businesses are double edged sword, as entry of any big pocketed player may pose serious threat to the business. For a longer term view we need to constantly track company's performance, acquisitions, expansions and whether the company is heading on the path of profitability on continuous basis."

Zomato IPO listing date is 27th July 2021 and Zomato shares will get listed on this date at both NSE and BSE.

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