Zomato shares the list tomorrow. How to check the attribution status
The allocation of shares in Zomato’s mega IPO has been finalized while the listing of shares on ESB and NSE will take place tomorrow. On the gray market, Zomato shares are listed with a premium of ₹BPF ₹27, according to market watchers. the ₹The food delivery startup’s initial 9,400 crore public offering – which was India’s largest since the IPO in March 2020 – has been subscribed 38 times. Retail investors bid 7.45 times while qualified institutional buyers or QIBs bid almost 54 times their quota and non-institutional investors 35 times. Link Intime India Private Ltd is the registrar of Zomato IPO and investors can check their share allocation on their website.
Investors can also check the status of their application for Zomato shares on the ESB website.
Prior to the IPO, Zomato had mobilized ₹4,196 crore from 186 major investors.
Zomato’s IPO included a new issue of shares worth ₹9,000 crore and an offer for sale value (OFS) ₹375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com.
LKP Securities, which had recommended subscribing to the IPO, said in a note: “Zomato is a growth-oriented company that is focused on increasing its presence in all regions of the country. FY21 fell 24% to Rs1,993 crore, the number of orders fell 41% to 239 million, but the value of orders rose 43% year-on-year to almost ₹400. The increased frequency and number of food deliveries by customers due to blockages as well as lower discounts and fees from customers to delivery partners resulted in a contraction of losses in FY21 at 490 crore (excluding exceptional item) of ₹2,251 crores in FY20. Zomato’s unit economic cost has improved over the past four quarters to ₹20.5 in FY21 of the loss of ₹30.5 in FY20. “
Zomato is “listed at a multiple of 27 times its revenue for FY21, while its global counterparts are trading in a range of 3 to 19 times the sale price. However, the desirability and scope of a new one growth are important to Zomato, ”the brokerage added.
Naveen Kulkarni, Chief Investment Officer, Axis Securities, said: “We believe that a better mix of services and a robust operating model will accelerate the revenue growth momentum. With growth expected to accelerate in the years to come after a pandemic, and the increasing use of online platform, we expect the company to break even at the operational level during the next year. fiscal year 22, making the IPO more lucrative. “
Zomato said it would use the net proceeds from the new issue to fund organic and inorganic growth initiatives ( ₹6,750 crore) and general corporate purposes.
Meanwhile, just ahead of Zomato’s listing, rival food delivery startup Swiggy said it closed a $ 1.25 billion funding round led by SoftBank Vision Fund 2 and Prosus.
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