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Expecting strong demand for the Zomato IPO from both institutional and retail investors: Angel Broking

Posted On July 14, 2021

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Zomato Ltd. has raised Rs. 4,196 crore by allotting 55.2 crore shares to anchor investors at Rs. 76 per share. Some of the key Marquee investors who were allotted shares in the anchor book include Tiger Global Investments Fund, BlackRock Global, Fidelity Funds, JPMorgan, Morgan Stanley Investment Fund, and T Rowe Price.

Along with global investors the anchor portion witnessed strong participation from domestic mutual funds who were allotted 18.4 crore shares aggregating to Rs. 1,399 crore out of the Rs. 4,196 crore anchor book.

Mr. Jyoti Roy – DVP- Equity Strategist, Angel Broking Ltd said Strong participation by institutions in the anchor book bodes well for the IPO and we expect continued strong demand for the IPO from both institutional and retail investors alike. Given strong delivery network, high barriers to entry, expected turnaround and significant growth opportunities in tier-II and tier-III cities, we believe that Zomato will command a premium to global peers and hence have a ‘SUBSCRIBE’ recommendation on the IPO.

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#Angel Broking #Angel Broking Ltd #Jyoti Roy #Zomato IPO

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