Zomato IPO fully sold on Day 1 in retail rush

Mumbai: Retail investors lapped up the shares of food delivery major Zomato on the first day of bidding in its Rs 9,375-crore IPO.

While the retail portion of the offer was subscribed 2.7 times, the institutional part was nearly subscribed fully, the high net worth (non-institutional) part 13% and the part reserved for employees 18%, data on the BSE showed. Overall the total IPO was subscribed 1.05 times. The issue, being offered at a price of Rs 72-76 per share, will close on Friday.

On Tuesday, Zomato had offered 55.2 crore shares to a group of foreign and domestic investors for about Rs 4,200-crore.