Zomato IPO: Retail portion subscribed over 2 times so far
The much-awaited initial public offering (IPO) of the home-grown food tech unicorn Zomato is finally here as the three-day share sale opened for subscription today with the offer price for the IPO fixed at ₹72- ₹76 per share.
After, the retail portion was subscribed nearly 100% within an hour of opening, at around 2 pm, the 10% retail quota was oversubscribed at around 2.28 times, data compiled by stock exchanges showed.
The Qualified Institutional Buyers (QIBs) portion was subscribed 0.17 times while the portion reserved for non institutional investors subscribed 0.09 times. Overall, the issue as of now got subscribed nearly 0.53 times.
Zomato on Tuesday said that it has raised ₹4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 552.17 million equity shares, to anchor investors, at a price of ₹76 per share. Government of Singapore, BlackRock, Goldman Sachs, Abu Dhabi Investment Authority are some of the investors that participated in the anchor book.
The issue comprises an offer for sale of ₹375 crore by the company’s early investor—Info Edge—and a fresh issue worth ₹9,000 crore. Link Intime India Private is the registrar of Zomato IPO and according to brokerages share allotment is likely to be finalised on July 22 and Zomato shares are likely to be listed on July 27.
Key details –
-Issue period: 14 July 2021 – 16 July 2021
-IPO Size: ₹9,375 crore