Zomato Set To Advance Listing Date

Zomato's race to hit the D-Street will be executed on Friday, July 23 as the online delivery company has advanced its listing date from July 27 to July 23. The company in the previous week had logged in record number of subscriptions for its Initial Public Offer (IPO).

The allotment process of the shares will be completed today in the demat account of the investors, according to market sources. The IPO was opened for subscription on July 14 and closed on July 16. It received subscriptions of 40.38 times, sums up to more than Rs 2 lakh crore.  Post IPO, the company is said to have a market capitalisation of Rs 64,500 crore.

The company offered its shares at an upper price of Rs 76/share. The total offer size of the company was Rs 9,375 crore, includes an Offer-for-sale of Rs 375 crore from its existing shareholder InfoEdge. Zomato raised Rs 4,196 crore from anchor investors, a day prior to the IPO.

The listing of Zomato will encourage a new generation of companies entering the listed space. Furthermore, Paytm, Mobikwik, and Policybazaar have also geared up for IPO.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.