Food delivery giant Zomato finalised its initial public offering (IPO) share allotment on Thursday. The company will list on the exchanges (BSE and NSE) on Friday, July 23, ahead of its scheduled July 27 listing.
Zomato’s mega IPO had recently ended with a bumper 38 times oversubscription as institutional investors poured money to get a pie of the hottest online food delivery platform.
According to the stock exchange data, Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer.
The IPO is India’s biggest since March 2020. It opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on Friday.
Zomato has already mobilised Rs 4,196.51 crore from 186 anchor investors on July 13, a day before the issue opened. The IPO size has been reduced to Rs 5,178.49 crore from Rs 9,375 crore earlier.
The company, backed by Jack Ma’s Ant Group Co, is the first from a long list of Indian unicorn startups to launch an IPO. It is also the first among Indian online food aggregators.