Zomato’s ₹ 9,375 initial public offering (IPO) is subscribed 32.92 times so far on the third and final day of the issue, according to subscription data on the exchanges. The IPO of the leading online food delivery service provider opened for investors on Wednesday, July 14 for a period of three days. Zomato’s shares are in high demand among qualified institutional buyers today, while retail individual investors showed tepid interest. (Also Read: Zomato IPO – Biggest Since Coal India, Ends Today )
The portion reserved for retail investors in the IPO was subscribed 7.07 times by 3:28 pm on Friday. The portion set aside for the non-institutional investors (NII) was subscribed 24.24 times, while the portion reserved for qualified institutional buyers (QIB) was subscribed 42.19 times – the highest among the three groups of investors.
The company has fixed the primary market offering’s price band at ₹ 72-76 per share. Zomato’s shares are likely to be listed on stock exchanges BSE and NSE on July 27. The public offer consists of a fresh issue of ₹ 9,000 crore and an offer for sale of ₹ 375 crore by promoter – Info Edge India.
The Zomato IPO comes at a time when markets are near their all-time highs and there is growing interest from several digital companies to list on the bourses.