IPO BOOKED CLOSE TO 5x

Zomato’s maiden offering was subscribed nearly 5x on Thursday, a day before its close. The 719-million-share offering has garnered bids for 3.45 billion shares worth ~26,000 crore. The qualified institutional buyer category was subscribed more than 7x and the retail portion 4.73x. Meanwhile, the HNI and employee portions were booked just 45 per cent and 36 per cent, respectively. Investment bankers said they expected bulk of the bids to come in on Friday. The price band has been set at ~7276 per share. Zomato's IPO comprises ~9,000 crore of fresh fundraise and ~375 crore of secondary share sale by Info Edge. At the top end, the company will be valued at nearly ~60,000 crore. The firm plans to utilise the proceeds for funding organic and inorganic growth.