Zomato IPO fully sold on Day 1 in retail rush – Times of India


MUMBAI: Retail investors lapped up the shares of food delivery major Zomato on the first day of bidding in its Rs 9,375-crore IPO.
While the retail portion of the offer was subscribed 2.7 times, the institutional part was nearly subscribed fully, the high networth (non-institutional) part 13% and the part reserved for employees 18%, data on BSE showed. Overall the total IPO was subscribed 1.05 times. The issue, being offered at a price of Rs 72-76 per share, will close on Friday.
On Tuesday, Zomato had offered 55.2 crore shares to a group of foreign and domestic investors for about Rs 4,200-crore.

Data relating to those who applied on Day 1 in the Zomato IPO was pointing to some shift in investor profile, PayTM Money, one of the tech-driven broking houses, said. Data analysed by the broking house showed that more than one in five investors in the IPO were first timers. Other than top cities like Delhi, Bengaluru, and Mumbai, first time participation was seen from smaller towns like Kodinar in Gujarat, Tuensang in Nagaland and Rangapara in Assam.
It also showed that 60% of the IPO investors on its platform were under the age of 30 years and 27% were under 25 years. Earlier, about 55% of the IPO investors were under the age of 30 years. The analysis also showed that average investment in Zomato IPO on Day 1 was 20% higher than the average investment in previous IPOs on PayTM Money platform.
PayTM Money is the first broking house that allowed its investors to apply in the Zomato IPO ahead of the opening of the offer.





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