Zomato IPO: The food shipment provider raised Rs 4,196 crore from 186 anchor investorsZomato has actually raised more than Rs 4,196 crore from anchor financiers ahead of the going public (IPO), which opened for bidding today.
The food delivery company raised the cash from 186 anchor investors, consisting of New World Fund Inc, American Funds, Tiger Global Investments Fund, BlackRock Global, Lansforsakringar Asienfond, JPMorgan, Morgan Stanley Investment Fund, T Rowe Rate and Canada Pension Investment Board.
Zomato prepares to raise Rs 9,375 crore through the general public offering, which will stay open for three days up until July 14.
Zomato's IPO consists of a fresh issue of Rs 9,000 crore and a sell of Rs 375 crore by the promoter, Info Edge India.
Zomato has repaired the rate band of the primary market offering at Rs 72-76 per share.
Retail investors can bid for one great deal of 195 shares, extending as much as a maximum of 13 lots.Zomato's share sale was subscribed as much as 36 percent by 1:15 pm on the very first day of the problem, data from the National Stock Exchange showed.
The shares remained in high need amongst retail investors; the portion reserved for them was oversubscribed within hours of opening.
The IPO experienced warm need from qualified institutional buyers and non-institutional financiers.
A total of 75 per cent of the Zomato IPO is booked for certified institutional purchasers, 15 per cent will be scheduled for non-institutional financiers and remaining 10 percent for retail investors.Zomato will used the IPO continues to fund natural and inorganic growth efforts and for general corporate functions.