Food aggregator platform Zomato has been in the process of its maiden initial public offering (IPO) this week, and investors have strongly been anticipating the share listing. Well, the wait seems to be over, as it is now expected that the stocks will be listed tomorrow, that is, Friday, July 23rd. As such, the listing is all set to come exactly a week after the IPO came to a close to record subscription numbers.
The sale of public shares at Zomato has successfully become the largest that the country has seen in over a year, and the second highest this year (after Paytm’s expected IPO later this year), standing at a value of ₹2.13 lakh crore after being subscribed a record 40.38 times. The offering was opened on July 14, and came to a close two days later, on July 16.
Shares carrying a face value of ₹1 were sold in a price Bandon ₹72-76 per share, and fresh issues alone stood at a whopping value of around ₹9,000 crore. Offer for sale (OFS) by investor Info Edge, on the other hand, brought in ₹375 crore. The upper end of the price band will see the firm reach a market capitalisation for almost ₹64,500 crore. Retail investors apparently bid as many as 7.45 times, while qualified institutional buyers (QIBs, or the so-called sophisticated investors) bid nearly 54 times their quota. On the other hand, non-institutional investors bid 35 times.
Prior to the offering, the unicorn startup had raised sums worth ₹4,197 crore in a pre-IPO round where 186 anchor investors participated, by allocating as many as 552.2 million shares, each at ₹76. Many other online platforms, from Paytm to MobiKwik are looking to follow in Zomato’s footsteps while entering the world of IPO.
The offering by Zomato was registered with Link Intime India Private Ltd., and investors can check their share allocation on the company’s website.