 "Zomato IPO subscribed nearly 5 times with still a day to go; HNI part lags")
Online food delivery company Zomato’s maiden offering was subscribed nearly five times on Thursday, a day before its close. The 719-million share offering has so far garnered bids for 3.45 billion shares, worth Rs 26,000 crore.
The qualified institutional buyer (QIB) category was subscribed more than 7 times and the retail portion was subscribed 4.73 times.
Meanwhile, the high networth individual (HNI) and employee portions were subscribed just 45 per cent and 36 per cent respectively.
Investment bankers said they expect the bulk of the bids to come on Friday. The price band for the IPO is Rs 72-76 per share.
Zomato's IPO comprises Rs 9,000 crore of fresh fundraise and Rs 375 crore secondary share sale by Info Edge. At the top-end of the price band, the company will be valued at nearly Rs 60,000 crore. The company plans to utilise the net proceeds from the IPO towards funding organic and inorganic growth initiatives.
The qualified institutional buyer (QIB) category was subscribed more than 7 times and the retail portion was subscribed 4.73 times.
Meanwhile, the high networth individual (HNI) and employee portions were subscribed just 45 per cent and 36 per cent respectively.
Investment bankers said they expect the bulk of the bids to come on Friday. The price band for the IPO is Rs 72-76 per share.
Zomato's IPO comprises Rs 9,000 crore of fresh fundraise and Rs 375 crore secondary share sale by Info Edge. At the top-end of the price band, the company will be valued at nearly Rs 60,000 crore. The company plans to utilise the net proceeds from the IPO towards funding organic and inorganic growth initiatives.
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