Zomato shares to list on NSE, BSE today: Will share price open in three-digit? Know more

The food delivery platform Zomato Initial Public Offering (IPO) has generated the third-highest amount in the history of the Indian capital market after getting subscribed above 180 times. Zomato IPO is expected to get listed at Indian bourses above ₹100 per equity price.  As per the stock market experts, Zomato shares may get listed at around 35 to 40 percent listing gains that may reflect listing of the IPO in three digits. On July 23, the company shares will be listed at both NSE and BSE. 

As of today, July 23, Zomato IPO GMP (Grey Market Premium) is Rs 27 which is Rs 4 rise from GMP on July 22 which was Rs 23

Experts take on Zomato IPO listing gains

Speaking on the possible Zomato IPO listing gains, Abhay Doshi, founder of UnlistedArena.com said, "With the improved sentiments in primary and broader market, I expect Zomato may list in three digits. Zomato's listing will set a benchmark for upcoming start-up IPOs". 

He further informed, "The Zomato IPO issue price is ₹72 to ₹76 that means if we add ₹27 in the public issue price, the expected listing price becomes ₹103 ( ₹76 + ₹27)". 

Briefing on post-listing strategy, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "My advice to the lucky bidders of the Zomato IPO is to book profit on the listing date".

When and how to check allotment status?

You can check the Zomato IPO allotment status online on July 23 at portals, BSE's official website- www.bseindia.com/investors/appli_check.aspx or on Link Intime's official website- www.https://linkintime.co.in/MIPO/Ipoallotment.html 

After share allotment on July 22, the refund of the unlucky bidders has been initiated. The credit of shares in the Demat Account of lucky bidders will take place on July 23. 

The food delivery startup IPO comprises Rs 9,000 crore fresh equity shares and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge. Zomato has said that it will use the money generated by fresh issues for funding growth initiatives. The online food delivery company had raised Rs 4,197 crore from 186 anchor investors ahead of the IPO by allocating 552.2 million shares at Rs 76 apiece.

(Image credit: PTI)