Zomato IPO gets oversubscribed by 38 times
- Zomato launched the IPO with a price band of ₹72-76.
Qualified Institutional Buyersbid for 2,013 crore shares.
- It had raised ₹4,197 crore from 186 anchor investors on Tuesday.
According to BSE data, the shares allocated for the Qualified Institutional Buyers (QIBs) bid for 2,013 crore shares. This is 51 times higher than 38.8 crore Zomato had reserved for this segment.
The shares allocated for non-institutional investors were subscribed by 32 times and shares meant for employees were subscribed by 62%. Retail Individual Investors (
Zomato had raised ₹4,197 crore from 186 anchor investors on Tuesday, July 13. Reports suggest that the issue got about 30-35 times more bids from anchor investors than it intended to sell in the first place. The company had allotted 55.22 crore equity shares to these anchor investors for ₹76 per equity shares.
Several marquee investors were allotted more than 2% of the anchor book. This included the Government of Singapore, Morgan Stanley Investment Fund,
The food aggregator business intended to raise ₹9,375 crore with this IPO. About ₹9,000 crore will be a fresh issue and ₹375 crore will be a secondary issue by InfoEdge. The company will open its IPO for retail investors on Wednesday, July 14, at 10 a.m., at a price band of ₹72-76.
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