Food delivery platform Zomato’s IPO Oversubscribed
Bengaluru, Jul 14th, 2021: India's leading food delivery platform Zomato's initial public offering was oversubscribed on an opening day with retail investors bidding for 2.7 times the number of shares reserved for them.
The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crores, stock exchange data showed.
Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid.
Non-institutional investors put in bids for 13 percent against their reserved portion while 38.88 crore shares reserved for qualified institutional buyers (QIBs) were almost fully subscribed. Of the 38.09 crore shares sought by QIBs, over 36.84 crore was by foreign institutional investor...