Zomato IPO: Here’s why firm’s grey market premium dipped

Zomato's shares are under pressure in the grey market after gradually dipping from yesterday. Find out why the company's valuation remains weak in the grey market ahead of its IPO launch on July 14.

Online food delivery giant Zomato’s Rs 9,375 crore initial public offering (IPO) is all set to launch on July 14. Despite being one of the most anticipated IPOs of the year, the shares of the firm are under pressure in the grey market. The grey market premium (GMP) of Zomato shares have turned volatile, according to multiple reports. Zomato’s GMP declined sharply on Monday to Rs 6.75 per share and remains weak today despite a marginal recovery, reported livemint.com, quoting a trader.