Zomato IPO oversubscribed 10.7 times

Zomato's initial public offer (IPO) was oversubscribed 10.7 times on the third and last day of the sale with institutional buyers pouring in to garb shares of the food delivery platform.

The offer received bids for 770.07 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed.

Retail investors sought 6.09 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 78.87 crore shares were bid by 1300 hours.

Non-institutional investors put in bids for 109.82 crore shares against their reserved portion of 19.42 crore. Qualified institutional buyers (QIBs) sought nearly 15 times their quota of 38.8 crore shares.

The portion set aside for employees has been subscribed 42 per cent.

The IPO, the biggest in India this year, opened for subscription on Wednesday in a price band of Rs 72-76 per share.

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.