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BharatPe co-founder Ashneer Grover makes Rs 150 crore personal application in Zomato IPO

The application to the Zomato IPO was made on July 16 via the HNI segment through Kotak Wealth Management.

July 16, 2021 / 05:19 PM IST
BharatPe co-founder Ashneer Grover

BharatPe co-founder Ashneer Grover

BharatPe CEO and Co-founder Ashneer Grover has made a Rs 150 crore personal application in the Zomato IPO, CNBC-TV18 reported.

The application to the Zomato IPO was made on July 16 via the HNI segment through Kotak Wealth Management.

Grover told CNBC-TV18 on July 16 that he is building a pool of $100 million for the Delhivery, Nykaa, and Policybazaar IPOs.

He added that he is allocating his personal savings to leverage himself using IPO financing and is looking to apply for $15 million-plus in every IPO that comes up in the tech space.

Notably, Grover is an active investor, and his portfolio includes at least 23 start-ups and two venture capital (VC) funds.

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Meanwhile, the initial public offering of Zomato has been subscribed 38.25 times on July 16 so far, the third day of bidding.

The offer has received bids for 2,751.13 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investor portion has been subscribed 7.44 times, while non-institutional investors have put in bids for 32.96 times against their reserved portion.

The portion set aside for employees is subscribed 62 percent and that of qualified institutional buyers (QIBs) subscribed 51.79 times.
Moneycontrol News
first published: Jul 16, 2021 05:19 pm

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