Zomato IPO Subscription Status: OVERSUBSCRIBED within hours of launch - All data details here

Within the hours of launch on the first day, the retail investors have oversubscribed the initial public offer of Zomato by over 1.5 times or 54 per cent. The quota kept reserved for retail investors was 10 per cent. The three-day IPO has been launched between July 14-16, 2021 for a size of Rs 9375 crore.

At around 12:45 pm, retail investors subscribed 20,00,77,995 shares as compared to 12,95,58,333 allotted shares, as per the data available on BSE portrays.

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While the non-institutional investors (NIIs) subscribed 0.05 times to 88,53,390 as compared to 19,43,37,499 kept reserved, similarly, the IPO received bids of 2,69,100 shares from Qualified Institutional Buyers (QIBs) as compared to 38,88,37,690 shares kept reserved.

The offer has been kept 75 per cent reserved for QIBs, while for NIIs at least 15 per cent quota has been set aside. 

Besides fresh issues of Rs 9000 crore, Rs 350 crore shall also be raised by the early investors Info Edge, which has over 18 per cent holding in the food delivery company.  

The company has already raised Rs 4196 crore from at least 186 anchor investors at Rs 76 per share on Tuesday before its IPO launch, Post issue, the market-cap of Zomato to be almost Rs 6000 crore.

Zee Business Managing Editor and the market guru Anil Singhvi before the IPO launch had said that the investors with high-risk appetites and long-term vision should subscribe for the food delivery aggregators IPO. The price range of the IPO is set at Rs 72-76 per share.

Zomato has unique business model and the market has always loved such companies, it has growth potential as at present only 7-8 per cent market is accessed in India, Singhvi had mentioned, adding further it’s a cash-rich company with Rs 3031 crore in cash and liquidity investments.