Zomato's initial public offering (IPO) was oversubscribed on day one.

1271319100Zomatos-initial-public-offering-IPO-was-oversubscribed-on-day-one.jpg

By: Priyanka Sikdar

Last Update: 2021-07-15 10:12:12 IST

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Zomato's initial public offering (IPO) was oversubscribed by 105 percent on the first day of trading on Wednesday. For the 71.9 crore shares on sale, it got 77.6 crore bids.

Zomato's initial public offering (IPO) was oversubscribed on day one.

34.8 crore bids were received against 12.9 crore shares on sale in the retail sector, resulting in a 2.6 times subscription rate. The portion allocated for Qualified Institutional Buyers (QIBs) received 0.98 times (98 percent) subscriptions, while the portion reserved for non-institutional investors received 0.13 times subscriptions (13 percent ). Employees' part was oversubscribed by 0.8 times or 18 percent.

Zomato's initial public offering (IPO) was oversubscribed by 105 percent on the first day of trading on Wednesday. For the 71.9 crore shares on sale, it got 77.6 crore bids.

Zomato plans to raise Rs 9,375 crore, with roughly Rs 9,000 crore coming from a new issuance and 375 crores coming from a secondary offering by InfoEdge. The pricing range for the IPO is Rs 72- Rs 76.

As part of an anchor book allocation, Zomato said on Tuesday that it has collected Rs 4,196 crore from a number of renowned institutional investors. At a price of Rs 76 per share, it has distributed 552.17 million equity shares to anchor investors. Some of the investors in the anchor book were the Government of Singapore, BlackRock, Goldman Sachs, and the Abu Dhabi Investment Authority.

The offering includes aRs 375-crore offer for sale from the company's early investor, Info Edge, as well as a Rs 9,000-crore new issue. The registrar of the Zomato IPO is Link Intime India Private, and according to brokerages, share allotment will be finalised on July 22 and Zomato shares will be listed on July 27.

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