Food delivery platform Zomato’s Initial Public Offering(IPO) worth Rs 9375 crore on Dalal Street was a massive success with the issue getting oversubscribed by over 38.25 times. The surged bidding was led by the qualified institutional buyers(QIB) as the category witnessed a subscription rate of 51.79 times. The non-institutional or the high net-worth investors(HNIs) subscribed to the public offering by 32.96 times while the portion reserved for retail investors got oversubscribed by 7.5 times, according to data released by the Bombay Stock Exchange(BSE).
Zomato’s IPO was open for a 3 day period from July 14 to July 16 during which investors placed bids for 2,751.25 crore equity shares as against the availability of 71.92 crore equity shares.
Surprisingly, the portion of shares reserved for Zomato’s employees was not oversubscribed, unlike other categories. Its subscription rate stood at 62%
With the public issue now closed, the process of allocation of shares has begun. The allotments will be announced on June 22 and those who don’t get allocated the number of shares they bid for will get their refund by June 23.
You can check your allotment status through the following method:
- Go to the following link: https://www.bseindia.com/investors/appli_check.aspx
2. Click on the equity option and choose the name of the issue ‘Zomato Limited’.
3. Enter the application number(from your stockbroker platform) and your PAN number.
4. Click on ‘Search’
The allocated shares will be transferred to the Demat account of the investor on June 26. Zomato’s IPO will finally get listed on the stock markets on June 27.
