Zomato IPO: Part scheduled for QIB was subscribed 51.79 times by 5:00 pm todayZomato's 9,375 initial public offering (IPO) is subscribed 38.25 times up until now on the 3rd and final day of the problem, according to subscription information on the exchanges.
The IPO of the leading online food shipment service provider opened for investors on Wednesday, July 14 for a duration of 3 days.
Zomato's shares are in high need among qualified institutional buyers today, while retail individual financiers showed warm interest.
(Also Read: Zomato IPO - Most Significant Given That Coal India, Ends Today )The part reserved for retail investors in the IPO was subscribed 7.45 times by 5:00 pm today.
The part reserve for the non-institutional investors (NII) was subscribed 32.96 times, while the portion reserved for certified institutional purchasers (QIB) was subscribed 51.79 times - the greatest amongst the three groups of investors.
The IPO was subscribed almost 5 times on the 2nd day of its issue the other day and totally subscribed at 1.05 times at the end of the first day.
Retail investors revealed overwhelming interest on the first day as the portion reserved for them was oversubscribed within hours of opening.
The company has actually fixed the main market offering's rate band at 72-76 per share.
Zomato's shares are likely to be listed on stock exchanges BSE and NSE on July 27.
The general public offer includes a fresh problem of 9,000 crore and a sell of 375 crore by promoter - Details Edge India.
The Zomato IPO comes at a time when markets are near their all-time highs and there is growing interest from numerous digital companies- such as Paytm, Flipkart, and Ola to go public and even more, list on the bourses.Zomato will use the IPO continues to fund organic and inorganic growth efforts and for basic corporate purposes.
Backed by China's Ant Group, Zomato is the very first Indian mega start-up to go public.
Included in 2008, Zomato is now one of the leading online food service platforms - in regards to the worth of food sold, and has an existence in 24 countries overseas.