Zomato likely to list on bourses on Friday

“The listing may be as early as Friday…however, there are multiple processes which are yet to be closed,” said a person in the know. Zomato’s previous listing date was July 27.

Last week, Zomato’s initial public offering (IPO)
was subscribed 40.38 times, generating demand of Rs 2.13 lakh crore, the most in 11 years and the third highest in Indian capital market history. The IPO opened on July 14 and closed on July 16.

It is also the first new-age internet startup to tap the Indian public markets, setting the tone for a clutch of other companies to follow, including
Paytm,
Policybazaar and
Nykaa.

Zomato shares with face value of Re 1 were offered in a price band of Rs 72-76 apiece. The issue comprised a fresh issue of equity of as much as Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge (India). At the upper end of the price band, the company will command a market capitalisation of nearly Rs 64,500 crore.

Zomato
had raised Rs 4,197 crore from 186 anchor investors ahead of the IPO by allocating 552.2 million shares at Rs 76 apiece.

Signalling the massive internet for the public issue, the issue drew a record number of anchor investors and the
second highest number of applications. Investors bid for almost 27.51 billion shares of Zomato on the BSE and NSE against the issue size of 681.4 million.

The retail investors’ portion was subscribed 7.87 times, while the figure was 54.71 times for qualified institutional buyers (QIB). The amount reserved for non-institutional investors, or high net-worth individuals (HNIs), was subscribed 34.80 times. The employee quota was undersubscribed, with demand at 68% of the shares set aside for them.