From plate to purse: Investors lap up Zomato IPO, subscribe over 38 times

The Rs 9,375-crore initial public offering (IPO) of online food delivery services provider Zomato was subscribed 38.25 times on Friday, the third and final day of bidding.

The offer received bids for 2,751.25 equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed. The retail investor portion was subscribed 7.45 times, while non-institutional investors put in bids for 32.96 times against their reserved portion. The portion set aside for employees was subscribed 62 per cent and that of qualified institutional buyers (QIBs) subscribed 51.79 times.

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The company has fixed the primary market offering’s price band at Rs 72-76 per share. Zomato’s shares are likely to be listed on the BSE and the NSE on July 27. The public offer consists of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by promoter Info Edge India.