Zomato shares to list on Friday

The IPO of Zomato was Indias biggest initial share sale offer since March 2020.While qualified institutional buyers or QIBs bid almost 52 times the quota reserved for them, non-institutional investors sought 640 crore shares against their quota of 19.43 crore.


PTI | New Delhi | Updated: 22-07-2021 20:51 IST | Created: 22-07-2021 20:51 IST
Zomato shares to list on Friday
  • Country:
  • India

Online food ordering platform Zomato, which last week closed its mega initial public offering raising over Rs 9,000 crore, will list on the stock exchanges on Friday, days ahead of its earlier schedule of the next week.

The firm had indicated a window from July 23 to July 27 for listing and has now decided to list on Friday, a source said.

''Effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities,'' the BSE said in a notice.

The company fixed the price at the higher end of the offer band of Rs 72-76 for 71.92 crore shares. The IPO of Zomato was India's biggest initial share sale offer since March 2020.

While qualified institutional buyers or QIBs bid almost 52 times the quota reserved for them, non-institutional investors sought 640 crore shares against their quota of 19.43 crore. Retail investors bid 7.45 times against the 12.96 crore shares reserved for them.

The only category that wasn't fully subscribed by the shares reserved for company employees, who sought just 62 per cent of the 65 lakh shares reserved for them.

The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on July 16.

The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. The Zomato IPO comprised a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com, according to the information provided in the draft red herring prospectus.

Zomato has said it will utilise the IPO proceeds for funding organic and inorganic growth initiatives and general corporate purposes.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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