Zomato IPO | Zomato IPO Day 1: Fully subscribed retail quota within the first hour of the bidding process
Zomato IPO Day 1: Fully subscribed retail quota within the first hour of the bidding process
- The retail portion of Zomato’s public offering was almost 100% subscribed within one hour of opening on day 1
- On July 13, the online food delivery company raised Rs 4,196.51 crore from 186 major investors, ahead of the opening of its IPO.
- From the founder of Paytm Vijay Shekhar Sharma to the co-founder of Info Edge Hitesh Oberoi, everyone is rooting for one of the country’s first IPOs by an internet company – Zomato
New Delhi: Zomato’s much-anticipated IPO drew a strong reaction from investors on Wednesday, with the issue being 17% underwritten within 60 minutes of the bidding process on day one.
The retail portion of the public offering was almost 100% subscribed within one hour of opening, since it was subscribed approximately 0.96 times. The portion of qualified institutional buyers (QIB) was subscribed 0.00 times while the portion reserved for non-institutional investors subscribed 0.02 times. Overall, the show has already been subscribed almost 0.18 times.
The issue includes a new issue of shares, totaling up to Rs 9,000 crore, and a sell offer of up to Rs 375 crore by Info Edge. It is sold in the price range Rs 72-76.
On July 13, the online food delivery company raised Rs 4,196.51 crore from 186 major investors, ahead of the opening of its IPO.
Startup founders say we support you
From Paytm founder Vijay Shekhar Sharma to Info Edge co-founder Hitesh Oberoi, everyone is backing one of the country’s first IPOs by an internet company – Zomato.
‘Make it big Deepi! Best wishes for a great list. Rooting for you dude #ZomatoIPO, “Paytm’s Vijay Shekhar Sharma said as a quote tweet from the founder of the food delivery app that said” I just ordered a triple breakfast @zomato. Eating stress. âSeveral reactions poured in after Goyal’s tweets.
Separately, Nikhil Kamath, co-founder and CIO of True Beacon and Zerodha, said he looks forward to the IPO as it is the first of its kind in Indian markets, in the food delivery arena. and restaurant aggregators. He believes that Zomato’s IPO will pave the way for other Indian startups for IPOs in Indian markets, as Indian markets are the best platform for all stakeholders, that is that is, the company, the investors and the customers.
Acknowledging the hard work of Goyal and Pankaj Chaddah over the years, Hitesh Oberoi, whose company is also one of Zomato’s early investors, said: âDeepinder – It’s amazing to see your crazy journey from the sidelines. Still remember the first discussions with you and @pankajchaddah. As you take the plunge, I wish you and the zomato team all the best. And thanks for creating value for InfoEdge along the way @deepigoyal. “
In addition, Amitabh Kant, the Managing Director of NITI Ayog, also congratulated Goyal on the IPO.
âCongratulations @zomato on the highly successful IPO of 9375 Cr and raising 4000 Cr from key investors prior to the IPO. Zomato has totally redefined the restaurant and delivery industry. Now in in 10,000 cities in 24 countries, their journey is truly inspiring and mind-boggling. Gr8 !, (sic), “Kant tweeted.