Synopsis
Religare stated traders might contemplate subscribing to the Zomato IPO for itemizing positive factors. The corporate is financially making losses which stays a priority however the administration has sturdy progress plans which can help revival, stated Religare. The brokerage stated contemplating Zomato’s monetary efficiency, it could be prudent to attend for a significant turnaround to vary the long-term stance.
Mumbai: Zomato’s Rs 9,375-crore IPO is the primary amongst a rising variety of Indian tech start-ups eyeing a inventory market debut within the subsequent 12 to 18 months. Nevertheless, lots of the brokerages are recommending subscribing just for the itemizing positive factors as the corporate continues to make losses. Brokerages anticipate the IPO to sail by and anticipate the distinctive enterprise mannequin to draw institutional traders. The IPO, priced at Rs 72-Rs 6 per share, will open
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https://economictimes.indiatimes.com/markets/ipos/fpos/subscribe-to-zomato-ipo-only-for-listing-gains-brokerages/articleshow/84389479.cms