Zomato IPO Sold in 1 day
I have never gone through any IPO ever until now but these days in this space Zomato is the king. Everyone is talking about zomato IPO and expecting that it will get listed on premium price and will bring impressive returns to investors.
Zomato is a food delivery company and its one of the top companies here in India in this segment. They have a good huge number of userbases added in the last few years. They had also purchased Ubereats to remove the competition and as of now, there are 3 players in the market however only 2 can be considered doing well. Online food ordering is a growing segment and its something that people like more and thats what helping zomato to grow. Swiggy is also there offering food delivery through their app and website but zomato has been the leader.
Zomato IPO was started on 14th July 2021 and within one day it all sold. This clearly shows that people like to invest in zomato since they believe that this has a bright future as people like to have things delivered at home instead of going outside. Zomato is a technology company now investors like to invest in companies that are tech-driven and their concept is futuristic. Zomato fits in this shape and seems like its going to get oversubscribed by a higher multiply number.
The initial public offering of Zomato, one of the leading foodservice platforms in India, subscribed 1.26 times on July 15 so far, the second day of bidding. The offer has received bids for 90.57 crore equity shares against an IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
I am not an investor in Zomato so far and probably I am not going to invest because I am too new IPO segment, however, trying to learn more see how this segment work as part of the investment. Its a truth that zomato is not a profit-making company and it runs on investor's money but hopefully after the IPO they would start generating profit. Recently they increased their delivery charges and commission that they charge to the restaurant.
I am keeping a close eye to see how zomato IPO gets oversubscribed and it would be interesting too. There is news that LIC is also planning to invest in this IPO however they are yet to do this but once they confirm then it will get a good amount of over-subscription.
Thank you.
Stay Safe.
Posted Using LeoFinance Beta
Scam comment deleted
Why the 100% downvote? @reeta0119
My account was hacked and compromised overnight. You can read my post about it here:
https://ecency.com/hive/@ninahaskin/phishing-attack
I did not know about it and have gone through the post.. Hope your funds are safe.
I have removed DV. take care dear
@ninahaskin Your comment contains a link that is on my blacklists ❗ ❗ ❗ 1 2 3
@reeta0119 do NOT click on the link above in their comment.
Reason: PHISHING
Link: "por69sex.buzz/mboP3*" => DO NOT CLICK ❗
More info: https://hive.blog/hive/@keys-defender/new-feature-phishing-detection-and-auto-reply
Comment 10% downvoted to make it less visible.
This message is self-voted to be more visible among others.
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!
thanks.
Posted Using LeoFinance Beta
You're welcome @reeta0119
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 80 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Thank you so much