Connect with us

Hi, what are you looking for?

Business

Issue subscribed 38.25 times at the end of final day

The company is going to use the funds from the Zomato IPO to fund its organic and inorganic growth initiatives

Zomato IPO Day 3: Issue subscribed 38.25 times at the end of final day

Representational image. PTI

On Friday, 16 July, the Zomato IPO closed for the subscription. On its last day, the IPO was subscribed 38.25 times. Against the IPO size of 71.92 crore equity shares, it received bids for 27,51,25,18,020 equity shares.

The portion for retail investors was subscribed 7.45 times while that reserved for qualified institutional buyers was subscribed 51.79 times. The Non-Institutional Investors (NII) have subscribed for 32.96 percent of the reserved portion, according to the data on the BSE website.

The portion reserved for employees was subscribed 0.62 times.

A subscriber could bid for a maximum of 13 lots with the size of 195 each. The IPO received a subscribe rating from several analysts. The Zomato IPO has a fixed price band of Rs 72 to Rs 76.

The company is going to use the funds from the Zomato IPO to fund its organic and inorganic growth initiatives. The proceeds will also be used for general corporate purposes.

Initially, the size of the Zomato IPO was Rs 9,375 crore. However, it was reduced to Rs 5,178.49 crore after the company raised Rs 4,196.51 crore on 13 July, a day before the IPO opened for subscription. Zomato was able to raise the money from its 186 anchor investors which reduced the IPO size.

The IPO includes fresh equity shares and an offer for sale. Info Edge (India), an investor of Zomato put an OFS of Rs 375 crore.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Technology

Cybercriminals Adopt the Blockchain to Broadcast confidential Messages A group of analysts from SophosLabs represents that programmers working the crypto-jacking malware, Glupteba, have been...

Technology

PUBG unban in India soon as PUBG Corp. Will The Government Of India Unban PUBG? PUBG Mobile was Ban in India, PUBG organization has...

Technology

A standard method to execute Bitcoin could be powerless against double-spending, the new examination has found. Blockchain sleuths at ZenGo, a wallet startup, have...

BlockChain News

HDD mining, also known as “storage mining”, is a process of obtaining cryptocurrency based on hard disk memory. Compared with traditional POW mining, hard...