Zomato IPO excess subscribe 4.8 times on day 2

New Delhi: Online Food Delivery Platform Zomato RS 9,375 Crore Public Offering Prime Advantages Next 4.8 times on Thursday as retail investors continue to devote bidding.
Zomato received an offer for 344.76 crore shares against 71.92 crore shares offered, shown exchange data.
The IPO is regulated as the largest India since March 2020.
On the opening day on Wednesday, an offer for 75.60 shares of Equity Crore was accepted.
Retail investors, who have searched 34.88 crore shares against 12.95 Crore provided for them on the opening day, adding almost the same amount on Thursday.
Retail investors have searched a total of 61.25 crore shares or 4.7 times the quota provided for them.
Qualified institutional buyers (Qibs) are too bidding 7 times the reserve quota of 38.88 crore shares.
But the quota of investors and non-institutional employees does not fully subscribe.
While the portion is set aside for employees has subscribed to 36 percent, non-institutional investors have bid for 45 percent of their quota.
Open IPO for subscribing to Friday with RS 72-76 ribbon prices per share.
Zomato has mobilized Rs 4,196.51 Crore from 186 Investor anchors on July 13, the day before the problem opened.
The IPO size has been reduced to RS 5,178.49 Crore from RS 9,375 Crore before.
The company, which is supported by Jack Ma Ant Group Co., is the first of the long list of Startup Unicorn India to launch IPO.
It is also the first between Indian online food aggregators.
The IPO, which will provide an assessment of Zomato in the amount of RS 64,365 Crore, is being mentioned as the second largest since the SBI card and payment service of Rs 10,341 Crore in March 2020.
It will go beyond Indian Corp Finance Railway offers in January.
Zomato IPO consists of a fresh edition of equity stock worth Rs 9,000 Crore and offers – for sale worth RS 375 Crore by Edge Investor Info (India), which is a naukri.com parent company, according to information provided in the Red Herring Prospectus draft.
Zomato said it would take advantage of net results from new problems to fund organic and inorganic growth initiatives (Rs 6,750 Crore) and company general needs.
Incorporated in 2008, Zomato was present at 525 cities in India, with 3,89,932 list of active restaurants along with the presence in 23 countries outside India.