zomato IPO: Subscribe to Zomato IPO only for listing gains: Brokerages

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The brokerage said investors with high-risk appetite can subscribe to the Zomato IPO for listing gains given the market fancy for unique and first of its kind listing in the food delivery business.

Synopsis

Religare said investors may consider subscribing to the Zomato IPO for listing gains. The company is financially making losses which remains a concern but the management has strong growth plans which will aid revival, said Religare. The brokerage said considering Zomato’s financial performance, it would be prudent to wait for a meaningful turnaround to change the long-term stance.

Mumbai: Zomato’s Rs 9,375-crore IPO is the first among a growing number of Indian tech start-ups eyeing a stock market debut in the next 12 to 18 months. However, many of the brokerages are recommending subscribing only for the listing gains as the company continues to make losses. Brokerages expect the IPO to sail through and expect the unique business model to attract institutional investors. The IPO, priced at Rs 72-Rs 6 per share, will open

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