Zomato IPO share allotment likely today; grey market premium surges ahead of listing en

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New Delhi: Online restaurant discovery and food delivery platform Zomato’s IPO share allotment is likely to be finalised as early as July 23, Friday, sources familiar with the matter told ET. However, processes like share allotment, credit of shares and refunds are yet to be closed.

Credit of Zomato shares in the Demat Account of lucky bidders is expected on July 26, 2021 while the tentative Zomato IPO listing date is July 27, 2021.

Online food service major’s share price in the grey market is available at a premium of Rs 23 today. That means, Zomato IPO GMP today is Rs 23, which is Rs 2 up from its yesterday’s Zomato IPO grey market premium of Rs 21. 

According to the market observers, Zomato IPO GMP has been continuously rising since July 14, 2021. Zomato’s share prices have logged a 130% gain in the grey market and has gone up from Rs 10 on July 14th to Rs 23 today i.e. 22 July 2021.

The issue comprised an offer for sale of Rs 375 crore by the company’s early investor—Info Edge—and a fresh issue worth Rs 9,000 crore.

Zomato has raised Rs 4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 552.17 million equity shares, to anchor investors, at a price of Rs 76 per share. The government of Singapore, BlackRock, Goldman Sachs, Abu Dhabi Investment Authority are some of the investors that participated in the anchor book.

Speaking on the expected listing gain from the Zomato IPO; Gaurav Garg, Head of Research, CapitalVia said that « We believe that better market sentiments along with surprising earnings in Q1FY from Jubilant Foodworks has created a positive impact on this sector. I agree with what Grey Market Premium (GMP) is indicating. We expect IPO to open beyond Rs 100 which is quite a reasonable listing for this venture. »

To check share allotment status, visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select ‘equity’ as the issue type, and ‘Zomato Ltd’ as the issue name from the drop-down list, when it gets declared. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the status details.

Another way to check the allotment status in Zomato is through Link Intime website. To check status, select the company name as ‘Zomato – IPO’ from the drop-down list on the Link Intime India website, when it gets declared. Check box either PAN, Application Number or Depository/Client ID. Accordingly, enter the permanent account number or Application Number or Depository/Client ID in the box. Enter the given captcha in the provided space and click the submit button. This will display the number of shares that have been applied and allotted to the investor.

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