Big broking firms expect Zomato's shares to double from IPO price

Zomato Ltd’s shares were valued at Rs45 a piece a year ago, Rs58 six months ago and Rs76 in its initial public offering (IPO). Trading in the grey market ahead of the IPO suggested the offer pricing was stiff, and there was hardly any money left on the table. But to everyone’s surprise, the shares listed at Rs126, and now trade at Rs136 apiece.