Zomato IPO Subscribed 38x Led By Institutional Bidders
- ByAyushi Ray | July 17, 2021
Zomato IPO subscribed 38x led by institutional bidders. According to BSE data, the non institutional portion Rs, 9375 core IPO was subscribed 33 times, while the retail part was subscribed 7.5 times. Unfortunately, the area reserved for Zomato employees, the one who knows the company better than outsiders have remained undersubscribed. 65 lakh shares kept allocated for this part, of which subscribed was about 62% or in other words, somewhere around 41 lakh. The entire book size qt close was for 2751 grote shares compared to 71.9 code shares, as per BSE data. The offer bid was kept between Rs 73 and Rs 76, and the initial public offering had opened on July 14. Shares are expected to be listed around July 27.
On the other hand of the price spectrum, loss making company Zomato will now have a market capitalisation of Rs 60,000 vitore. The company’s approximate valuation is at par with its listed values of hotels and restaurants taken together. Zomato’s estimated value is also equal to the combined market cap of all the listed quick service restaurants in India, which are both it’s customers as well as it’s competitors. The process of how to approach a loss making AI enabled company is quite capable and huge. Recently, Kotak Mutual Fund MD Nilesh Shah said that IPOs of all the new Indian companies have the potential to attract global investors who have already done their share of investment in China.
Also Read
Follow Startup Story
Related Posts
