The much anticipated initial public offering (IPO) of online food delivery company Zomato opened on Wednesday at Rs 72-76 per share offer. The initial public offering was oversubscribed 1.3 times on the second day of the offering with retail investors continuing to bid for shares of the food delivery platform.
The offer received bids for 95.44 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed.
Retail investors sought 3.96 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 51.36 crore shares were bid by 1400 hours.
Non-institutional investors put in bids for 26 per cent against their reserved portion while qualified institutional buyers (QIBs) fully took their quota of 38.8 crore shares.
The portion set aside for employees has been subscribed 22 per cent.
The IPO, the biggest in India this year, is open for subscription till Friday in a price band of Rs 72-76 per share.
On Tuesday, the company said that it has raised Rs 4,196.51 crore from 186 anchor investors. It has allocated 55.2 crore equity shares, to anchor investors, at a price of Rs 76 per share.
The IPO size has been reduced to Rs 5,178.49 crore from Rs 9,375 crore earlier.
Zomato IPO will be listed at BSE and NSE.