IGI Logo

Below is quote on Zomato Ltd IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd   

The Zomato IPO received great response from investors and was subscribed ~ 38 times which translated to a blockbuster listing for the stock. The stock listed at more than a 50% premium to the issue price of Rs. 76 and continued to move up from there given strong demand. We had given a subscribe rating to the IPO. Given strong delivery network, high barriers to entry, expected turnaround and significant growth opportunities in tier-II and tier-III cities we continue to remain positive on the stock from a long term perspective. Post the stellar listing, we recommend that short-term investors that were looking for listing gains can exit the stock while long-term investors can book partial profits.

Above views are of the author and not of the website kindly read disclaimer