Stocks

Zomato IPO subscribed 38.25 times; QIB share gets 52x bids

Our Bureau Mumbai | Updated on July 16, 2021

Food delivery company Zomato’s IPO was subscribed 38.25 times on the third, and last, day. The QIB (Qualified Institutional Buyer) portion was subscribed 52 times. The IPO has so far received bids for 2,751 crore equity shares against 71.92 crore shares on offer, exchange data showed.

The retail category was subscribed by 7.45 times. ‘Other non-institutional investors’ portion was subscribed 32.96 times. Employees of the company have so far bid for 63 percent of the shares set apart for them.

Zomato intends raising ₹9,375 crore via its IPO. About ₹9,000 crore in a fresh issue and ₹375 crore, a secondary issue by InfoEdge.

The IPO price band is ₹72-76. At the upper end of the price band, Zomato is offering shares at a market cap/ sales ratio of 29.9x to its FY21 sales of ₹1,994 crore.

Published on July 16, 2021

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