Zomato IPO Price Prediction 2021, GMP Grey Market Premium and Aims to Raise its equity shares to Rs 9,375 Crore

One of the most popular online food delivering apps, Zomato has initiated its initial public offering (IPO). Being the biggest online food delivery company, Zomato IPO commenced today (14th July) at 10 am and will be available for share purchase until 16th July. Zomato made its IPO limited to those members who have purchased their Gold subscriptions.

Zomato IPO Price Prediction 2021 and Current Price

As of today, Zomato IPO GMP is at a price of ₹8.75 to ₹9, which was at ₹13 to ₹17 yesterday. There is a fixed price range of Zomato IPO ranges from Rs 72-76 per share. The Zomato IPO GMP (Grey Market Premium) today is around 12 percent, which dropped around 8 percent from its yesterday’s premium of ₹13 to ₹17 and its fixed prices raised to ₹81 to ₹85. Zomato is also attempting to boost its equity shares by around Rs 9,375 crore through this proposal.

Total Zomato IPO shares are distributed as 75 percent of the shares are reserved for eligible institutional investors, the remaining 15 percent will be withheld for non-institutional buyers, and lastly 10 percent for retail investors.

According to a report presented by the National Stock Exchange, on the very first day, the Zomato IPO was subscribed by 36% by 1:15 pm. As Zomato being the trending company, among retail buyers the shares are in high demand and the reserve amount of shares were subscribed within a few hours. Retail buyers can bid up to 13 lots in which each lot has 195 shares.

Major Stakeholders

zomato ipo price prediction

Zomato is a food delivering business initialized by Info Edge India which is also the parent company of Naukari.com. The main business of Zomato is to deliver food from restaurants and dine out. Zomato has increased its market in the last four years. As Covid has very hardly hit the market, Zomato has managed to overcome the losses. Some of the main stakeholders of Zomato are Tiger Global Investment Fund, Blackrock, Goldman Sachs India, Fidelity, JPMorgan, Morgan Stanley, T Rowe Price, Canada Pension Plan Investment Board, Government of Singapore, SBI Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, UTI Mutual Fund, Motilal Oswal AMC, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, Abu Dhabi Investment Authority, Franklin Templeton, HSBC Asset Management (India).

Should you subscribe to Zomato Listing gains?

Most of the popular Research and brokerage firms such as Motilal Oswal Financial Services, Ventura Securities, ICICI Direct, Kotak Securities, etc suggest that Zomato IPO can be worth Subscribing for listing gains as Zomato is the biggest online food delivery company in India due to which it can be seen as the next big thing to watch out for.

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