Food delivery and restaurant review app Zomato may advance its share listing to as early as Friday, July 23.
The company, backed by Jack Ma's Ant Group Co, is the first from a long list of Indian unicorn startups to launch an IPO. The IPO, which will give Zomato a valuation of Rs 64,365 crore is touted to be the second-biggest in India.
Earlier set on July 27, the date could advance to July 26 or even earlier to July 23.
"The listing may be as early as Friday...however, there are multiple processes which are yet to be closed," a source privy to the development told The Economic Times,.
Also Read | Zomato to raise Rs 9,400 crore in IPO
The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on Friday, July 16. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed.
Zomato has already mobilised Rs 4,196.51 crore from 186 anchor investors on July 13, a day before the issue opened. The IPO size has been reduced to Rs 5,178.49 crore from Rs 9,375 crore earlier.
Post-IPO, the valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies - Jubilant FoodWorks (the master franchisee for Domino's Pizza in India), Burger King India, fast food restaurant holding company Westlife Development Ltd, Barbeque-Nation Hospitality and Speciality Restaurants.
(With agency inputs)