<p>Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform.</p>.<p>Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed.</p>.<p>The IPO is India's biggest since March 2020.</p>.<p>Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/zomatos-india-stock-offering-draws-strong-investor-appetite-1009252.html" target="_blank">Zomato's India stock offering draws strong investor appetite</a></strong></p>.<p>While qualified institutional buyers or QIBs bid almost 52 times the quota reserved for them, non-institutional investors sought 640 crore shares against their quota of 19.43 crore.</p>.<p>Retail investors bid 7.45 times against the 12.96 crore shares reserved for them.</p>.<p>The only category that wasn't fully subscribed by the shares reserved for company employees, who sought just 62 per cent of the 65 lakh shares reserved for them.</p>.<p>The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on Friday.</p>.<p>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.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/zomato-ipo-brought-new-set-of-investors-shift-in-consumer-behaviour-paytm-money-ceo-1009178.html" target="_blank">Zomato IPO brought new set of investors, shift in consumer behaviour: Paytm Money CEO</a></strong></p>.<p>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.</p>.<p>The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January.</p>.<p>Post-IPO, the valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies - Jubilant FoodWorks (the master franchisee for Domino's Pizza in India), Burger King India, fast food restaurant holding company Westlife Development Ltd, Barbeque-Nation Hospitality and Speciality Restaurants.</p>.<p>At Friday's closing price, the combined market capitalisation of the five companies was Rs 59,841.3 crore.</p>.<p>The Zomato IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com, according to the information provided in the draft red herring prospectus.</p>.<p>Zomato has said it will utilise the net proceeds from the fresh issue for funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes.</p>.<p>Incorporated in 2008, Zomato is present in 525 cities in India, with 3,89,932 active restaurant listings along with a presence in 23 countries outside India. </p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform.</p>.<p>Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed.</p>.<p>The IPO is India's biggest since March 2020.</p>.<p>Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/zomatos-india-stock-offering-draws-strong-investor-appetite-1009252.html" target="_blank">Zomato's India stock offering draws strong investor appetite</a></strong></p>.<p>While qualified institutional buyers or QIBs bid almost 52 times the quota reserved for them, non-institutional investors sought 640 crore shares against their quota of 19.43 crore.</p>.<p>Retail investors bid 7.45 times against the 12.96 crore shares reserved for them.</p>.<p>The only category that wasn't fully subscribed by the shares reserved for company employees, who sought just 62 per cent of the 65 lakh shares reserved for them.</p>.<p>The IPO opened for subscription on July 14 in a price band of Rs 72-76 per share. It closed on Friday.</p>.<p>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.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/zomato-ipo-brought-new-set-of-investors-shift-in-consumer-behaviour-paytm-money-ceo-1009178.html" target="_blank">Zomato IPO brought new set of investors, shift in consumer behaviour: Paytm Money CEO</a></strong></p>.<p>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.</p>.<p>The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January.</p>.<p>Post-IPO, the valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies - Jubilant FoodWorks (the master franchisee for Domino's Pizza in India), Burger King India, fast food restaurant holding company Westlife Development Ltd, Barbeque-Nation Hospitality and Speciality Restaurants.</p>.<p>At Friday's closing price, the combined market capitalisation of the five companies was Rs 59,841.3 crore.</p>.<p>The Zomato IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India), which is the parent company of Naukri.com, according to the information provided in the draft red herring prospectus.</p>.<p>Zomato has said it will utilise the net proceeds from the fresh issue for funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes.</p>.<p>Incorporated in 2008, Zomato is present in 525 cities in India, with 3,89,932 active restaurant listings along with a presence in 23 countries outside India. </p>.<p><strong>Check out DH's latest videos:</strong></p>