Zomato listing on Friday? Grey market premium climbs to 35%

New Delhi: Food delivery platform Zomato is likely to advance its listing date from July 27 to as early as July 23, Friday, a person familiar with the matter told ETMarkets on the condition of anonymity.

However, multiple processes like share allotment, credit of shares and refunds are yet to be closed.

Following the buzz of early listing, the grey market premium on the unlisted shares of the company has moved higher. The company is now commanding a premium of Rs 22-25 in the unofficial market for trading in unlisted shares, which suggests a 33-35 per cent premium.

Abhay Doshi, Founder, UnlistedArena said the recent listing has lifted sentiments in the primary market. "All the recently listed stocks have rewarded investors handsomely and the same is expected from Zomato," the grey market tracker said.

The company sold its share in the price band of Rs 72-76 apiece between July 14 and 16 to raise Rs 9,375 crore. The issue received robust investor response at over 38 times subscription.

The quota reserved for qualified institutional buyers (QIBs) was subscribed 54.71 times while those reserved for non-institutional investors (NIIs) 34.80 times and the retail quota 7.87 times.

At the higher end of the price band, the company will command a market capitalisation of more than Rs 64,500 crore, which will be higher than the combined market value of India's half a dozen listed quick-service restaurant chains such as the franchisees of Domino's, McDonald's and Burger King, among others.

India has 20 listed hospitality companies with an aggregate market capitalisation of about Rs 45,000 crore.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Zomato Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit.

You can also check the allotment status on the online portal of Link Intime India
Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.