On Day 2, Zomato IPO subscribed 4.79 times


Meals supply firm Zomato’s IPO was subscribed 4.79 instances on Thursday, the second day of bidding for the difficulty. Zomato has obtained functions for 344.76 crore fairness shares in opposition to 71.92 crore shares on provide, trade knowledge confirmed.

The retail class was subscribed 4.73 instances. Different non-institutional buyers have bid for 45 per cent of the portion reserved for them. Staff have up to now bid for 36 per cent of their portion, whereas the Certified Institutional Consumers portion was subscribed 7.06 instances.

Zomato intends to boost ₹9,375 crore through the IPO. About ₹9,000 crore shall be a recent problem and ₹ 375 crore a secondary problem by InfoEdge. The IPO worth band is ₹72-76. On the higher finish of the band, Zomato is providing shares at a market cap/gross sales ratio of 29.9x to its FY21 gross sales of ₹1,994 crore.


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