From plate to purse: Investors lap up Zomato IPO, subscribe over 38 occasions

The Rs 9,375-crore preliminary public providing (IPO) of on-line meals supply companies supplier Zomato was subscribed 38.25 occasions on Friday, the third and ultimate day of bidding.
The provide obtained bids for two,751.25 fairness shares in opposition to IPO dimension of 71.92 crore fairness shares, the subscription knowledge out there on the exchanges confirmed. The retail investor portion was subscribed 7.45 occasions, whereas non-institutional traders put in bids for 32.96 occasions in opposition to their reserved portion. The portion put aside for workers was subscribed 62 per cent and that of certified institutional consumers (QIBs) subscribed 51.79 occasions.

The firm has mounted the first market providing’s value band at Rs 72-76 per share. Zomato’s shares are prone to be listed on the BSE and the NSE on July 27. The public provide consists of a recent challenge of Rs 9,000 crore and a suggestion on the market of Rs 375 crore by promoter Info Edge India.