Zomato shares will debut on the bourses tomorrow i.e. July 23 instead of the scheduled date of July 27, a Zomato spokesperson told NDTV. The food delivery startup has fixed the IPO price at Rs 76 per share, which is at the upper end of the price range of Rs 72-76. The shares will be listed on both, BSE and NSE.
Zomato’s Rs 9,375-crore offer had received a stupendous response from the investing community. The IPO was subscribed 38.25 times; the portion reserved for qualified institutional buyers (QIB) was subscribed 51.79 times, non-institutional investors attracted 32.96 times subscription and retail segment, 7.45 times.
The restaurant aggregator and food delivery company’s offer consisted of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by the promoter, Info Edge India.
The anchor book had also garnered a strong response ahead of the IPO. Zomato raised Rs 4,196.51 crore from 186 anchor investors, including New World Fund Inc, American Funds, Tiger Global Investments Fund, BlackRock Global, Lansforsakringar Asienfond, JPMorgan, Morgan Stanley Investment Fund, T Rowe Price and Canada Pension Plan Investment Board, at a price of Rs 76 per share.
Zomato was incorporated in 2008. Backed by China’s Ant Group, Zomato is among the most prominent startups in the country today and also has a presence in 24 countries worldwide.