As investors gear up major initial public offers (IPOs) that will hit primary markets from next week, here is a look at the all the developments on companies that will list on the exchanges.
Zomato shares trade at 26% premium in grey market ahead of IPO
Online food ordering platform Zomato's IPO is less than a week away, but its shares are already selling on a strong premium in the grey market. The company’s stock will open for subscription on July 14 and close on July 16, while allotments will be finalised by July 22.
Zomato has fixed a price band for its IPO at Rs 72-76 per equity share. The Rs 9,375-crore offer will open for subscription on July 14 and close on July 16.
Ola raises $500 Mn ahead of IPO
Ola said Temasek, Warburg Pincus affiliate Plum Wood Investment and Ola co-founder Bhavish Aggarwal have invested $500 million in the ride-hailing platform ahead of its proposed IPO.
Ola Chairman and Group CEO Bhavish Aggarwal said that he looks forward to collaborating with the new partners in its "next phase of growth. The company, however, didn't specify a timeline for its proposed IPO.
Softbank to invest in IPO-bound PharmEasy?
SoftBank is reportedly in talks to invest in API Holdings, which owns online pharmacy chain Pharmeasy.
API is seeking a valuation of at least $5.6 billion in a new funding round, SoftBank could invest $150 million to $200 million into the online pharmacy owner, as per Bloomberg News.
The company is targeting a listing in the next 12 to 18 months, reports suggest.
IPO-bound Paytm's boss says Indian exchanges are the best places for startups to list
Ahead of filing for initial public offering (IPO), Paytm boss Vijay Shekhar Sharma is all praises for Indian exchanges. Praising the government, regulators and policy makers, he said Indian exchanges are the best places for Indian startups to list.
His comments come after Niti Aayog CEO Amitabh Kant expressed his delight that several startups are listing in the Indian stock markets and he further pointed out, this demonstrates the vibrancy & dynamism of our Startup movement.
In response to this, Sharma tweeted, “Indian exchanges are the best places for Indian startups to list. Strong winds of positive change from our government, regulators and policymakers.”
Earlier this week, a Reuters report said, Paytm, will file a draft prospectus as early as 12 July for a IPO that seeks to raise $2.3 billion.