Food delivery company Zomato’s IPO was subscribed 4.79 times on Thursday, the second day of bidding for the issue. Zomato has received applications for 344.76 crore equity shares against 71.92 crore shares on offer, exchange data showed.
The retail category was subscribed 4.73 times. Other non-institutional investors have bid for 45 per cent of the portion reserved for them. Employees have so far bid for 36 per cent of their portion, while the Qualified Institutional Buyers portion was subscribed 7.06 times.
Zomato intends to raise ₹9,375 crore via the IPO. About ₹9,000 crore will be a fresh issue and ₹ 375 crore a secondary issue by InfoEdge. The IPO price band is ₹72-76. At the upper end of the band, Zomato is offering shares at a market cap/sales ratio of 29.9x to its FY21 sales of ₹1,994 crore.