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Zomato IPO: Check subscription status, GMPs and other key details

 


The second day of subscription to the initial public offering of online food delivery giant Zomatos is underway. Zomato’s IPO was well received by retail investors from the first day of subscription.

The company’s IPO was underwritten 1.20 times on the second day at 11:50 a.m. and the commercial part was booked almost 3.5 times.

Data available on the stock exchanges shows that investors have submitted bids for more than 86 crore of shares, more than the offering size of 71.92 crore of shares. It can be noted that the size of the offering was reduced after the company raised Rs 4,197 crore from key investors on July 13, a day before the IPO opened for subscription.

Read | Opening of the Zomato IPO for subscription: key information to know

The number of shares reserved for qualified institutional buyers was subscribed at 98 percent and the portion reserved for non-institutional investors was subscribed at 17 percent.

As mentioned earlier, retail investors oversubscribed almost 3.5 times their share. Meanwhile, the employee-only position saw 21 percent subscription.

On Wednesday, Zomato’s global issue received bids 1.05 times more than its issue size. At the end of yesterday, the retail share segment was 2.69 times oversubscribed.

Zomatos’ gray market premium (GMP) improved slightly and was between Rs 12-14 and nearly 17% above the upper price range of Rs 76 per share.

KEY DETAILS ON ZOMATO’S IPO

The company’s public offering includes Rs 9,000 crore of a new share issue and a sale offer of Rs 375 crore by its largest shareholder Info Edge India Limited. About 65 lakh shares have been reserved for company employees.

The price range for the public offering has been set at Rs 72-76 per share and investors can subscribe to a minimum of 195 shares and in multiples thereafter.

Prior to the IPO, the company allocated shares worth Rs 4,195 crore to anchor investors. In total, more than 552 million shares have been allocated to nearly 200 foreign companies as well as to domestic investors to the tune of Rs 76 per share.

The IPO ends on July 16. Link InTime India Private is the registrar of Zomato’s IPO and the share allocation could be finalized on July 22.

Brokerages say Zomato shares will likely be listed on July 27.

Explained: why so many companies go public in 2021

Sources

1/ https://Google.com/

2/ https://www.indiatoday.in/business/story/zomato-ipo-check-subscription-status-gmp-other-key-details-1828436-2021-07-15

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