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Wednesday, August 04, 2021

IPO Wrap: Zomato IPO subscribed 38.25 times on final day led by QIBs and non institutional investors

Zomato IPO subscription status: Zomato IPO was subscribed 38.25 times on the final day of the offer.

By: Express Web Desk | New Delhi |
Updated: July 16, 2021 5:49:48 pm
zomato ipo, zomato ipo update, zomato ipo subscription statusA delivery worker of Zomato, an Indian food-delivery startup, wearing a face mask waits to collect order outside an eatery in Kolkata, India, July 13, 2021. (REUTERS)

The blockbuster initial public offering (IPOs) of online restaurant discovery and food delivery platform Zomato, which was launched earlier this week was met with a robust demand by the investors.

Zomato IPO was subscribed 38.25 times on the final day, data available on the BSE showed. The Rs 9,375 crore offer received bids for over 2,751.25 crore (27,51,25,18,020) shares against the total issue size of 71.92 crore (71,92,33,522) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) got subscribed 51.79 times, while those of non institutional investors were subscribed 32.96 times and that of retail individual investors (RIIs) was subscribed 7.45 times. Separately, shares for the employees’ segment was subscribed 0.62 times, the BSE data showed.

Zomato IPO was India’s biggest so far this year with a size of Rs 9,375 crore. The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of, according to the information in the red herring prospectus (RHP).

The IPO of the food delivery giant had opened for subscription on Wednesday, July 14, 2021, and concluded at 5 pm today. It had a price band of Rs 72-76 per share and before heading into the IPO, Zomato raised over Rs 4,196 crore (Rs 41,96,51,86,380) from 186 anchor investors in lieu of 55,21,73,505 equity shares at Rs 76 each.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Zomato is expected to take place on Thursday, July 22, 2021, as per the information provided in the RHP.

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