Zomato IPO subscribed 1.32 times on day 2, sees huge participation from young & first time investors

Food delivery platform which launched its initial public offering (IPO) yesterday, July 14, 2021, was subscribed 1.32 times so far in the second day of the IPO, as per BSE data.

May Interest: Zomato’s IPO kicks off on 14th July: why you should subscribe it

According to the data available with BSE, the shares which are to be allocated for the qualified institutional buyers was subscribed  98 per cent, while those of non institutional investors was subscribed nearly 24 per cent,  the retail individual investors was subscribed 3.87 times.

Also, the shares for the employees’ segment was subscribed nearly 21 per cent, as per BSE.

Zomato’s IPO subscription will go live till 5 pm on July 16^th.

The price band of Zomato IPO is fixed at Rs 72-76 per share of the face value of Rs 1 each and the company aims to raise Rs 9,375 crore through the offer.

The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge (India).

Zomato raised over Rs 4,196 crore (Rs 41,96,51,86,380) from 186 anchor investors in lieu of 55,21,73,505 equity shares at Rs 76 each, ahead of its IPO on Tuesday, 14^th July.

May Interest: Food-tech platform Zomato raises Rs 4,197 crore from anchor investors ahead of IPO

As per a statement by Paytm Money, Zomato IPO saw huge demand coming from young and first time investors. According to the statement, 27% of people who completed the Zomato IPO application on Paytm Money's platform were less than 25 years old while 60% were less than 30 years old.

With food delivery segment growing at a speedy rate, food delivery major Zomato became one of the top brand to gain from the current trend of home delivery or ordering in.