Food delivery giant Zomato witnessed strong demand from the grey market investors as shares were available at a premium of 26 percent in the grey market ahead of the opening of its initial public offering (IPO).
Its Rs 9,375-crore initial public offering, the largest in last sixteen months since SBI Card IPO, will open for subscription on July 14. The offer will close on July 16.
The offer comprises a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by Info Edge, a pure play internet company. Info Edge is the largest shareholder in Zomato with 18.68 percent stake.
News source:- Moneycontrol