InvestorQ : What was the reason for Zomato pulling back its listing date to 23 July?
manisha Kolvenkar made post

What was the reason for Zomato pulling back its listing date to 23 July?

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Crowny Pinto answered.
5 months ago
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In a rather interesting move, Zomato has decided to pull back its listing date to 23 July instead of 27 July, which was the original schedule. This appears to be a kind of method to surprise the market and ensure that institutional demand is robust when the listing happens. The company is expecting some pressure of selling from FPIs as there were a large number of funding applications that were put in on the last day.

The IPO price was discovered at the upper end of the stipulated price band at Rs.76 per share. Zomato expects to see a high level of interest on listing day plus a lot of volumes happening on Friday. The issue was subscribed 38.25 times with QIB portion subscribed 51.8 times. Zomato is a quick delivery portal and the early listing is unprecedented and also, perhaps, in sync with the business model of early delivery that Zomato is looking to underline.

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