On Tuesday, July 13, Zomato released its anchor book ahead of its IPO. The company has issued 552.17 million equity shares worth Rs 4,196 crore to the anchor investors at a price band of Rs 76 per share prior to its subscription day.
Altogether 186 anchor investors received an allotment in the share sale. New World Fund, Tiger Global, and BlackRock were among the ones picking shares. The domestic Mutual Funds that were notified in the list are namely SBI MF, HDFC MF, and Axis Mutual Fund.
‘BW Business World’ quoted sources familiar with the matter who suggested that the anchor list obtained 30-40x demand and the offer received bids for Rs 1.45 lakh crore against the anchor size of Rs 4,196 crore.
According to experts and brokerages, investors with high-risk appetites might subscribe to the IPO for listing gains or for the short term. Experts further expressed that being the first company to hit the Indian bourses, a lot of interest and buzz for the IPO can be seen in the market which is expected to drive the prices on a listing day.
The anchor book is considered to be one of the largest as yet with no investors securing over three percent in the offer. An anchor book that is released prior to the day of IPO, puts forward the offer demand in the market among the investors.
Zomato’s IPO commences on July 14, Wednesday, and will conclude on June 16, Friday. The offer price is kept at Rs 9,375 crore which involves an offer for sale of Rs 375 crore by its existing shareholder Info Edge. The price band is set at Rs 72-76 per share.