Private Equity

Liquidity Events

Food delivery platform Zomato's IPO subscribed 40 times

Economic Times  

Zomato's initial public offering (IPO) was subscribed 40.38 times, generating demand of INR 2.13 lakh crore. The IPO set a record for anchor investors and drew the second highest ever applications. Investors bid for almost 27.51 billion shares of Zomato on the BSE and NSE combined against the issue size of 681.4 million. The retail investors' portion was subscribed 7.87 times, while the figure was 54.71 times for qualified institutional buyers (QIB). The amount reserved for non-institutional investors or high net-worth individuals (HNIs) was subscribed 34.80 times. The employee quota was undersubscribed, with demand at 68% of the shares set aside for them. Zomato had raised INR 4,197 crore from 186 anchor investors ahead of the IPO opening by allotting 552.2 million shares at INR 76 apiece. At the upper end of the band, the company will command a market capitalisation of nearly INR 64,500 crore.

From the Venture Intelligence PE-VC Deal Database: Between Nov-13 and Feb-21, Zomato raised over $2-B from Info Edge, Bow Wave Capital Management, Kora Management, Vy Capital, Steadview Capital, Dragoneer Investment Group, Fidelity India, Tiger Global, Luxor Capital, Mirae Asset Global Investments, Baillie Gifford,Temasek, Alibaba, Glade Brook Capital, Shunwei Capital, Apoletto, Rocket Internet, Blume Ventures, Matrix Partners India, Nexus Venture Partners, Sequoia Capital India and others. Some had made partial exits earlier. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)