Retail investors applied 6.09 times more than the share reserved for them. As against 12.95 crore shares reserved for retail individual investors, applications for 78.87 crore shares had been submitted till 1 pm.
6.09 times more applications from retail investors.
Zomato IPO: On the third and last day of the offer for Zomato’s initial public offering (IPO), 10.7 times more applications were received. According to stock market data, applications were received for 770.07 crore shares against 71.92 crore shares included under this offer.
Retail investors applied 6.09 times more than the share reserved for them. As against 12.95 crore shares reserved for retail individual investors, applications for 78.87 crore shares had been submitted till 1 pm. Non-institutional investors applied for 109.82 crore shares as against 19.42 crore shares of their reserves, while Qualified Institutional Buyers (QIBs) made 15 more applications for 38.8 crore shares reserved for them. 42 percent more applications were received for the part set aside for employees.
Subscription was open on Wednesday
It is being called the biggest IPO of this year. The IPO is open for applications from Wednesday. The price range for the IPO has been kept at Rs 72 to 76 per share. Zomato has already raised Rs 4,196.51 crore from 186 anchor investors as on July 13. The size of the IPO has come down to Rs 5,178.49 crore from the earlier Rs 9,375 crore.
9,375 crore IPO
Zomato’s IPO worth Rs 9,375 crore opened on Wednesday. The price range under the IPO has been fixed at Rs 72 to 76 per share. The company plans to raise Rs 9,375 crore from the IPO. Let us tell you that the company has the support of Jack Ma’s Ant Group Company. Zomato is the first company in India’s long list of unicorn startups to IPO. It is the first online food aggregator to launch an IPO. Based on its IPO, the valuation of Zomato comes to Rs 64,365 crore. It is believed to be the second highest IPO after SBI Cards and Payment Services (Rs 10,341 crore) which came in March 2020. This will overtake the Indian Railway Finance Corporation’s IPO in January.
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