The premium has increased in the gray market
At least 15 per cent premium is expected in the listing of Zomato shares. Despite the higher valuation of the company, the premium has increased in the gray-market for the last few days. Jubilant’s results in the first quarter of Fiscal Year 2022 have been excellent, which shows that the sentiment of the sector is strong. With this, Zomato is the first food delivery company to be listed. The listing of Zomato’s shares was earlier scheduled to take place on July 27, but now it has decided to list first. Now the listing of the shares of the company can be done on July 23.
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Market sentiment has improved a lot
There is no official statement from Zomato regarding the listing. Gaurav Garg, Head Research, CapitalVia Global, said, “We believe that the market sentiment has improved significantly. This is being ascertained from the results of Jubilant for the first quarter. He believes that according to the signals coming from the gray-market, the listing of Zomato shares can be done at Rs 100 per share, which is also reasonable.
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