Zomato IPO Subscription Status: IPO subscribed 4.79 times on day 2, QIB portion booked 7.06 times

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 4.79 times on July 15, the second day of bidding. The offer has received bids for 344.76 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.73 times, while non-institutional investors have put in bids for 45 percent against their reserved portion. The portion set aside for employees is subscribed 36 percent and that of qualified institutional buyers subscribed 7.06 times.

"At the upper price band of Rs 76, the issue is offered at Market Cap/Sales of 29.9x to its FY21 sales of Rs 1,994 crore. The company does not have any listed peers," said Arihant Capital Markets.

The brokerage likes the company because of 1) Widespread and well organized on-demand hyperlocal delivery network.,2) Acknowledge consumer brand equity across India.,3) Among the leading Food Service Delivery platforms with 4) A strong network of 131,233 restaurants and 161,637 delivery partners, whom fulfilled 94.9% of order delivery.,5) Zomato is highly personalized, intuitive, simple to use, visually appealing, and are designed to drive high engagement with the customers. "We recommend investors to subscribe for the long term buy for investors with higher risk appetite," said the brokerage.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 4.79 times on July 15 so far, the second day of bidding. The offer has received bids for 344.55 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.72 times, while non-institutional investors have put in bids for 45 percent against their reserved portion. The portion set aside for employees is subscribed 36 percent and that of qualified institutional buyers subscribed 7.06 times.

Discovery: Basic listing is free for restaurant partners, helps to restaurant partners increase in demand for food delivery and dining out.

Hyperlocal delivery network: food delivered to customers reliably and quickly by delivery partners.

Sales and Promotion channel: offers brand marketing, sales & promotion campaign helps to target high intent customers who are looking for food delivery and services offered by restaurant partners.

Suite of business support services: Provides multiple tools to restaurants partners including analytics, dashboards, table reservations and payments processing etc., helps to run their business in better manner. (Source: Arihant Capital Markets)

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 4.77 times on July 15 so far, the second day of bidding. The offer has received bids for 342.96 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.66 times, while non-institutional investors have put in bids for 43 percent against their reserved portion. The portion set aside for employees is subscribed 35 percent and that of qualified institutional buyers subscribed 7.05 times.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 4.76 times on July 15 so far, the second day of bidding. The offer has received bids for 342 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.64 times, while non-institutional investors have put in bids for 42 percent against their reserved portion. The portion set aside for employees is subscribed 32 percent and that of qualified institutional buyers subscribed 7.05 times.

KR Choksey believes Zomatois very richly valued at around $9 billiongiven its status of a company which is yet to make any profit. "However, as it is the first start-up in the Indian Food Aggregator space to be listed on the bourses, the enthusiasm among the investors about the IPO is tremendous. Also, the company has a unique status of a UNICORN in the Indian Food Delivery space," the brokerage said.

From the valuation perspective, "we are not very comfortable with the sky-high valuation that the IPO is valued at. As a result, we recommend our investors to subscribe to the issue only for listing gains," the brokerage said.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 4.74 times on July 15 so far, the second day of bidding. The offer has received bids for 341 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.57 times, while non-institutional investors have put in bids for 39 percent against their reserved portion. The portion set aside for employees is subscribed 32 percent and that of qualified institutional buyers subscribed 7.05 times.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 2.26 times on July 15 so far, the second day of bidding. The offer has received bids for 162.42 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.52 times, while non-institutional investors have put in bids for 37 percent against their reserved portion. The portion set aside for employees is subscribed 26 percent and that of qualified institutional buyers subscribed 2.48times.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 2.16 times on July 15 so far, the second day of bidding. The offer has received bids for 155.66 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.47 times, while non-institutional investors have put in bids for 37 percent against their reserved portion. The portion set aside for employees is subscribed 26 percent and that of qualified institutional buyers subscribed 2.33times.

The initial public offering of Zomato, one of the leading food service platforms in India, subscribed 1.73 times on July 15 so far, the second day of bidding. The offer has received bids for 124.62 crore equity shares against IPO size of 71.92 crore equity shares, the subscription data available on the exchanges showed.

The retail investors are at the forefront as the portion reserved for them is subscribed 4.43 times, while non-institutional investors have put in bids for 35 percent against their reserved portion. The portion set aside for employees is subscribed 26 percent and that of qualified institutional buyers subscribed 1.55 times.

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