Zomato IPO: With the opening of the IPO of Zomato, the country’s leading food delivery company, there has been a good response from investors. The company’s IPO is fully subscribed on the very first day. So far, the company’s IPO has been subscribed 1.07 times in total. Retail investors have shown more enthusiasm in terms of subscriptions. Shares meant for retail investors have been over-subscribed 1.65 times so far.
This IPO of Rs 9,375 crore of Zomato is open for common investors today. The company has already raised Rs 4200 crore from its anchor investors even before the IPO opens for general investors. The opportunity for investors to apply for this stock is open till Friday evening. The company has fixed a price range of Rs 72 to 76 for this IPO. Among the tech startup companies of the country that are going to be listed on the stock exchange in the coming days, Zomato is going to be the first to do so.
The issue of Zomato was the first to be fully subscribed by retail investors, while Qualified Institutional Buyers (QIBs) have so far subscribed 98 per cent of the secured shares for themselves. Similarly, non-institutional investors (NIIs) have subscribed 12 per cent of the secured shares for themselves. Reserved shares for Zomato employees are 18% subscribed. In this IPO, 75 percent of the shares have been reserved for QIBs, 15 percent for NIIs and the remaining 10 percent for retail investors.
(Story: Kshitij Bhargava)