{"id":133103,"date":"2021-07-23T02:43:49","date_gmt":"2021-07-23T02:43:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=133103"},"modified":"2021-07-23T02:43:49","modified_gmt":"2021-07-23T02:43:49","slug":"zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule\/","title":{"rendered":"Zomato to debut on the stock market today, 4 days ahead of schedule"},"content":{"rendered":"

Through the IPO, Zomato has raised Rs 9,000 crore in fresh capital.<\/strong><\/p>\n

<\/p>\n

India’s first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market.<\/p>\n

As per initial schedule, Zomato’s listing was to take place on July 27.<\/p>\n

However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline.<\/p>\n

Under the Sebi framework, the timeline between IPO closing and listing has to be six working days.<\/p>\n

Zomato’s IPO had closed on July 16.<\/p>\n

The stock is expected to do well going by the huge demand generated in its IPO.<\/p>\n

Zomato’s public offering had seen nearly 40 times more demand than shares on offer and garnered bids worth over Rs 2 trillion—among the highest for domestic IPOs.<\/p>\n

Market players said given the stellar response the grey market premium for Zomato’s shares have shot up from 15 per cent during the IPO to 30 per cent at present.<\/p>\n

If grey market activity is anything to go by, the stock is expected to list around Rs 100 per share.<\/p>\n

The online food delivery company has fixed the issue price at Rs 76 per share, which will value the company at nearly Rs 60,000 crore.<\/p>\n

Through the IPO, Zomato has raised Rs 9,000 crore in fresh capital.<\/p>\n

The issue proceeds will be used for funding organic and inorganic growth initiatives.<\/p>\n

After the IPO, Zomato will have cash of Rs 15,000 crore on its balance sheet, which the company says will give it a long runaway to pursue growth.<\/p>\n

Between FY18 and FY20 Zomato’s losses have widened from Rs 107 crore to Rs 2,386 crore.<\/p>\n

However, the cash burn has helped the company grow its top line five times from Rs 466 crore to Rs 2,605 crore.<\/p>\n

Given the lack of profitability track record and uncertainty around when the company would turn profitability, some investors had given Zomato’s IPO a miss.<\/p>\n

Most brokerages, however, had recommended their clients to subscribe to the IPO.<\/p>\n

At Rs 76 per share, Zomato is valued at 29.9 times its FY21 sales.<\/p>\n

Going forward, industry delivery percentage to net-revenue stands at 5 per cent and with the Zomato average order value of Rs 400 (Rs. 20 per delivery) the company is well poised and it is also placed at a sweet spot as the first mover advantage in the online food delivery market.<\/p>\n

“Additionally, given the strong network effects, increasing frequency of order, huge scope for growth in tier-II and tier-III cities and large addressable market, we recommend a subscribe (short term) rating to the IPO,” Anand Rathi had said in an IPO note.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Through the IPO, Zomato has raised Rs<\/p>\n","protected":false},"author":3,"featured_media":133102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nZomato to debut on the stock market today, 4 days ahead of schedule - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zomato to debut on the stock market today, 4 days ahead of schedule - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Through the IPO, Zomato has raised Rs\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-23T02:43:49+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule\/\",\"url\":\"https:\/\/precoinnews.com\/business\/zomato-to-debut-on-the-stock-market-today-4-days-ahead-of-schedule\/\",\"name\":\"Zomato to debut on the stock market today, 4 days ahead of schedule - 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