Info Edge share slips 5% ahead of Zomato IPO

Info Edge share fell nearly 5% today a day ahead of food delivery platform Zomato's IPO. Info Edge holds a stake of about 18.55 percent in the food delivery platform Zomato.

Share of Info Edge has fallen after three days of consecutive gain.

Info Edge stock touched an intraday low of Rs 5,138.15, falling 4.85% against previous close of Rs 5,400.25 on BSE.

The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

 The share has gained 82% in one year and risen 8.17% since the beginning of this year.

Zomato IPO will close on July 16.  Price band of the IPO has been fixed at Rs 72-76 per share. Allotment of shares will be done on July 22 and the stock is likely to be listed on BSE and NSE on July 27.

The Zomato IPO is one of the largest public offerings in recent times as the company is planning to raise Rs 9,750 crore.

The lot size of Zomato IPO is 195 shares for which an investor will have to spend Rs 14,820. A retail individual investor can apply for up to 13 lots (2,535 shares) by spending Rs 192,660. The company is eyeing valuation of around $8.5 billion through the IPO.

It will issue shares to anchor investors today. The food delivery app will garner almost half its issue size of around $560 million from institutional investors at the upper end of the price band of Rs 76 per share, according to a report in Moneycontrol. More than 100 end investors will be allotted shares as part of the anchor book for the IPO, the report stated.