Zomato IPO listing date: Check date, total subscription and other important details

The much-anticipated Zomato initial public offering (IPO) which opened on July 14 was a huge success. The IPO which was India's biggest since March 2020, lived up to its hype and got massively oversubscribed. The online food delivery giant had issued the IPO at a price band fixed for Rs 72-76 per share of the face value of Rs 1 each. Now that the subscription ended on Friday, all eyes are on the Zomato IPO listing date.

Zomato IPO oversubscribed

Zomato IPO ended its issue on a 38 times oversubscription as of July 16, the last date to apply.  The IPO which was opened as India’s biggest of the year garnered a strong response owing to the qualified institutional buyers (QIBs), which subscribed to the issue 52 times. According to the stock exchange data, the food aggregator company got bids for 2,751.25 crore shares against 71.92 crore shares on offer. The IPO got bids from non-institutional investors 32.96 times, while the portion for the employees was subscribed 62 per cent.

When Zomato IPO will be allotted

Both investors and the general public involved with the market are now looking at the allotment dates. Zomato IPO’s listing is garnering importance so as to evaluate the market situation. As of now, the Zomato IPO allotment date is July 23, 2021. The allotments can be checked through the Bombay Stock Exchange (BSE) website. Following the listing, the initiation of refunds is expected to begin by July 26.

Zomato IPO listing date

Following the initiation of the refund procedure, the exchange will start the process to transfer the shares. As of now, the shares are expected to be transferred to the subscriber’s Demat accounts on July 27. According to the brokerage firm Edelweiss, the Zomato IPO listing date is expected to be July 28. The Zomato IPO listing time will be during the normal working hours of the exchanges.

A bit about Zomato IPO

According to the prospectus, the Zomato IPO comprised a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India). The food delivery giants had said in its prospectus that the net proceeds from the fresh issue will be used by the company for funding organic and inorganic growth initiatives and general corporate purposes. Started in 2008, Zomato currently is available in 525 cities in India, and 23 countries abroad.

IMAGE: PIXABAY