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What performance of food delivery companies post-listing foretells about Zomato

The big question is will the company’s price come down to meet its financials or will the financials improve to meet the high valuation 

July 16, 2021 / 09:41 AM IST
What performance of food delivery companies post-listing foretells about Zomato

Zomato garners almost half its issue size of around $560 million from institutional investors at the upper end of the price band of Rs 76/share.

Value investors are warning anyone willing to listen about the risk of investing in Zomato’s loss-making IPO. Yet the torrent of liquidity and euphoria around the company are so high that the issue was over-subscribed on the very first day. Zomato’s IPO is a landmark event for start-ups in the country. Mobikwik, a digital e-payment company, was quick to file its papers with SEBI, looking at Zomato’s response in the primary market. However, there is apprehension in the market over the issue. Grey market premiums...

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