Tag: Indian Market
A purchase request to the brokerage is known as a pre-booking. Sridhar added that on the day the offer goes live on the exchange, the brokerage will buy allotments on behalf of all the requests it has received from investors.
“Because we won’t be collecting money during the pre-order, it’s not the same as booking a slot ahead of market hours,” he explained, adding that depending on the size, demand, and premium of the IPO, a request made through the feature may or may not turn into an allocation.
Investors will have to clear a payment request on their Unified Payments Interface (UPI) app within 24 hours of receiving an allocation using the new functionality.
Over the last few months, there has been a boom in interest in IPOs, and we have observed examples where customers have been unable to apply due to difficulties such as tight timelines during market hours and demand-driven processing delays in the markets.
For the forthcoming Zomato IPO on July 14-16, the functionality will first be available on the Paytm Money app.
Company Profile
Paytm is an Indian digital payment system and financial technology company, based in Noida. Paytm is currently available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.
(Source: The Economics Time)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
People have opposing viewpoints. Despite its losses, some believe that a tech-enabled corporation should be valued differently than a typical company. Some see the IPO as a way for venture capital and private equity investors to unload their risk to retail investors, while others anticipate Indian food tech businesses will match international peers like DoorDash’s valuations to a major extent.
Zomato’s IPO will take place from July 14 to July 16, with a price range of Rs 72-76.
Zomato’s IPO will take place from July 14 to July 16, with a price range of Rs 72-76. The increased offer size is estimated to be around Rs 9,375 crore. Zomato’s IPO valuation, at around Rs 60,000 crore, is roughly equal to the market value of all of the other quick service restaurants (QSRs) listed on Indian stock exchanges. It is also worth as much as the combined market value of all of the country’s listed hospitality chains. This second category includes behemoths such as Indian Hotels, which operates the world-famous Taj hotel brand in India and overseas and also Oberoi Hotels.
In India, there are around 20 listed hospitality companies with a combined market capitalisation of Rs 44,000 crore and a half-dozen listed quick service restaurants with a combined market value of Rs 60,712 crore. After the coronavirus crisis, Jubilant (which operates a Domino’s Pizza India franchisee), Westlife (McDonald’s), and Indian Hotels (which runs the Qmin gourmet food ordering app) all introduced contactless delivery services.
Jubilant Foods, which claims that over 90% of Domino’s deliveries are now related to internet orders, is the most valuable QSR stock at Rs 41,007 crore, while Indian Hotels (Taj) is the most valuable hospitality firm at Rs 17,589 crore. According to Indian Hotels chairman N Chandrasekaran, who spoke at the company’s annual shareholder meeting last month, Qmin, which Taj debuted last July, is expanding its reach to 25 cities from 16 cities.
Source: economictimes.indiatimes
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.