Zomato IPO updates: The public offer of Zomato, the largest food delivery company in India, has oversubscribed by 1.20 times on July 15, the second day of bidding.
Investors have put in bids for 86.09 equity shares against the offer size of 71.92 crore equity shares, the subscription data available on the exchanges showed. The offer size has been reduced after the company garnered Rs 4,197 crore from anchor investors on July 13, a day before issue opening.
The portion set aside for qualified institutional buyers, which helped the issue get fully subscribed on the day 1 itself, has subscribed 98 percent, and that of non-institutional investors 17 percent.
Retail investors seems to be remained excited to invest in the first tech start-up, putting in bids 3.44 times their reserved portion, while a part set aside for employees was subscribed 21 percent.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.19 times on July 15 so far, the second day of bidding. The offer has received bids for 85.42 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.40 times, while non-institutional investors have put in bids for 16 percent against their reserved portion. The portion set aside for employees is subscribed 21 percent and that of qualified institutional buyers 98 percent.
Zomato Operations
Zomato majorly monetizes through four sources namely 1) Food Delivery 2) Dining Out 3) Hyperpure 4) Zomato Pro. Food delivery is the largest segment and accounts for 75.2 percent of the total income. Dining out, Zomato Pro and Hyperpure account for 11.8 percent, 2.9 percent, and 10 percent of revenues.
Zomato IPO updates: The public offer of Zomato, the largest food delivery company in India, has oversubscribed by 1.18 times on July 15, the second day of bidding.
Investors have put in bids for 84.95 equity shares against the offer size of 71.92 crore equity shares, the subscription data available on the exchanges showed. The offer size has been reduced after the company garnered Rs 4,197 crore from anchor investors on July 13, a day before issue opening.
The portion set aside for qualified institutional buyers, which helped the issue get fully subscribed on the day 1 itself, has subscribed 98 percent, and that of non-institutional investors 16 percent.
Retail investors seems to be remained excited to invest in the first tech start-up, putting in bids 3.37 times their reserved portion, while a part set aside for employees was subscribed 21 percent.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.17 times on July 15 so far, the second day of bidding. The offer has received bids for 84.40 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.33 times, while non-institutional investors have put in bids for 15 percent against their reserved portion. The portion set aside for employees is subscribed 21 percent and that of qualified institutional buyers 98 percent.
Zomato IPO updates: The public offer of Zomato, the largest food delivery company in India, has oversubscribed by 1.16 times on July 15, the second day of bidding.
Investors have put in bids for 83.40 equity shares against the offer size of 71.92 crore equity shares, the subscription data available on the exchanges showed. The offer size has been reduced after the company garnered Rs 4,197 crore from anchor investors on July 13, a day before issue opening.
The portion set aside for qualified institutional buyers, which helped the issue get fully subscribed on the day 1 itself, has subscribed 98 percent, and that of non-institutional investors 15 percent.
Retail investors seems to be remained excited to invest in the first tech start-up, putting in bids 3.26 times their reserved portion, while a part set aside for employees was subscribed 20 percent.
Brokerage's Take
"India’s total addressable food service market is pegged at $32-35 billion in 2020. Out of this only 8-9 percent is online food delivery market as compared to around 45-50 percent penetration in China & America. This under penetration leaves huge headroom of growth for the online food delivery segment in India. However at the current reckoning Zomato’s ask of about $8-9bn valuation is vehemently expensive given its weak fundamentals besides impending third wave of Covid," AUM Capital said.
Hence, investors with a relatively high risk taking ability can subscribe to encash on listing gains, given frenzy for one of its kind listing in food tech universe, the brokerage advised.
Company Profile
Zomato is a technology based food delivery company which started its journey as a content and discovery platform for restaurants. Zomato’s technology platform connects customers, restaurant partners and delivery partners, serving their multiple needs. Customers use its platform to search and discover restaurants, read and write customer generated reviews and order food delivery, book a table and make payments while dining-out at restaurants. On the contrary, Zomato also provide restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.15 times on July 15 so far, the second day of bidding. The offer has received bids for 82.88 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.21 times, while non-institutional investors have put in bids for 15 percent against their reserved portion. The portion set aside for employees is subscribed 20 percent and that of qualified institutional buyers 98 percent.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.14 times on July 15 so far, the second day of bidding. The offer has received bids for 82.12 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.17 times, while non-institutional investors have put in bids for 15 percent against their reserved portion. The portion set aside for employees is subscribed 20 percent and that of qualified institutional buyers 98 percent.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.13 times on July 15 so far, the second day of bidding. The offer has received bids for 81.39 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.11 times, while non-institutional investors have put in bids for 15 percent against their reserved portion. The portion set aside for employees is subscribed 20 percent and that of qualified institutional buyers 98 percent.
Zomato IPO updates: The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.12 times on July 15 so far, the second day of bidding. The offer has received bids for 80.21 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.
The retail investors are at the forefront as the portion reserved for them is subscribed 3.03 times, while non-institutional investors have put in bids for 14 percent against their reserved portion. The portion set aside for employees is subscribed 20 percent and that of qualified institutional buyers 98 percent.
Zomato IPO Subscription Status Live: IPO subscribed 1.20 times on day 2 so far, retail portion booked 3.44... - Moneycontrol.com
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