Zomato IPO oversubscribed 10.7 times, with institutional investors flooding into the company's stock
Zomato's initial public offering (IPO) was oversubscribed 10.7 times on the third and final day of the sale, with institutional investors flooding into the company's stock.
According to stock market statistics, the IPO got bids for 770.07 crore equity shares against an IPO size of 71.92 crores. Retail investors demanded 6.09 times the amount set aside for them. By 1300 hours, 78.87 crore shares had been bought against 12.95 crore available for retail individual investors.
Non-institutional investors bid for 109.82 crore shares out of a total of 19.42 crore allotted for them. Qualified institutional buyers (QIBs) requested roughly 15 times their 38.8 crore allotment of shares.
Employees' part has been subscribed to the tune of 42 per cent. The IPO, India's largest this year, began accepting subscriptions on Wednesday at a price range of Rs 72-76 a share.
On July 13, a day before the offer launched, Zomato had already raised Rs 4,196.51 crore from 186 anchor investors. The IPO's size has been lowered from Rs 9,375 crore to Rs 5,178.49 crore.