Zomato IPO: LAST DAY alert! Hours left for subscription to close – Market Guru Anil Singhvi had said THIS reviewing IPO

With few hours left for the subscription to close today, the initial public offer for Zomato has been oversubscribed 7.5 times at around 11:45 am of third-day subscription. The three-day IPO was launched on July 14, 2021, with an issue size of Rs 9375 crore and a price range of 72-76 per share.

Banking on the brand’s popularity, investors have rushed to buy the Zomato shares. In this regard, retail investors have shown an overwhelming response to the public offer, with the category subscribing to the issue over 5.7 times to 73,74,14,535 shares as against 12,95,58,333 shares offered.

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Similarly, Qualified Institutional Buyers (QIBs) also oversubscribed the public offer by 11.7 times to 4,53,96,58,110 equity shares as compared to 38,88,37,690 shares kept reserved. 

While Non-Institutional Investors category subscribed 1.09 times to 21,32,75,400 equity shares as compared to the reserved quota of 19,43,37,499 shares on the third day at around 11:45 am.

खत्म हुआ इंतजार...आज से खुलेगा ZOMATO का IPO

कंपनी में क्या पॉजिटिव, क्या निगेटिव?

जानने के लिए देखिए अनिल सिंघवी का ये वीडियो#EditorsTake #Zomato #ZomatoIPO #ZomatoIndia @AnilSinghvi_ @NSEIndia @BSEIndia pic.twitter.com/f8uxj8UO4F

— Zee Business (@ZeeBusiness) July 14, 2021

Zomato has already mobilised Rs 4,196.51 crore from 186 anchor investors a day before the issue opened on July 13, 2021. The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing and early investor Info Edge (India).  

Zee Business Managing Editor and the market guru Anil Singhvi explains that investors with huge risk appetite and long-term vision should subscribe for the food delivery aggregators IPO.

Singhvi suggests, the investors with a high-risk appetite should invest with a long-term vision that too with a small investment amount, as the valuations of the company are not cheap. He mentions, it’s better to invest in IPO only when there is a listing gain of at least 20-25 per cent visible.  

The market guru terms, there is a tussle between heart and mind with respect to Zomato IPO, where the former goes with unique business model and brand value, while the mind is with the balance sheet and profitability concerns.