IPO - News, Zomato, food delivery giant finalised its IPO, allotment , subscribed 38.25 times during July 14-16, Click Here

The trading premium of Zomato has gone up significantly in the grey market in the run-up to share allotment and the food-delivery unicorn likely bringing forward the listing date to July 23.

The shares were available at a premium of Rs 20-22 in the grey market, the IPO Watch and IPO Central data showed. It translates to a trading price of Rs 96-98 a share, a premium of 26.3-28.9 percent over the expected issue price of Rs 76.

The grey market is an unofficial platform for trading in IPO shares. The trading in the shares typically begins after the announcement of the IPO price band and goes on till the listing of shares.

As per the schedule, the shares were to list on July 27 but sources told Moneycontrol the company moved the date forward to July 23.

The food delivery giant finalised its IPO share allotment on July 22. As it has preponed its entire schedule, the funds are expected to be refunded to ineligible investors as well as shares are likely to be credited to demat accounts of eligible investors on July 22.

The Rs 9,375-crore offer received a stellar response and was subscribed 38.25 times during July 14-16.

The portion reserved for qualified institutional buyers (QIB) was subscribed 51.79 times, followed by non-institutional investors with 32.96 times subscription, and retail part 7.45 times.

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