Zomato IPO met with 'well-wishing' message from rival food delivery app Swiggy

The launch of the Zomato IPO was met with a full subscription on Day 1 of bidding. On the other hand, Swiggy sent a notification to its users, with a well-wishing message for its rival company. The notification said, “It’s a big day for Indian start-ups. We wish our friends well. Invest in something sweet to mark this special occasion? Gulab Jamun? Ladoo? Barfi? Get all your favourites delivered safely to your doorstep.”

Swiggy shares 'well-wishing' message for its rival food delivery app, Zomato's IPO

@SanskaaraL posted a screenshot of the Swiggy notification on Twitter. @chiaseedpuddin, a Swiggy employee, also posted a picture of the food delivery app notification on Twitter and said, “Cheering our friends on because we all grow together. Best of luck for the IPO, Zomato! ” Zomato also shared a number of tweets on their account on the IPO today. Some of them said, "so, what are you ordering today?", "sorry there are no discount codes on some orders" and "who all are applying ghee to their paranthas this morning". 

Zomato's IPO launch met with a full subscription on day 1 of bidding

The launch of Zomato’s IPO has been making the headlines lately. The IPO launched on July 14, with a share price of Rs. 72-76. The retail segment was fully subscribed in about an hour. 20% subscription has been made on just the first day of the bidding for the Zomato IPO. Earlier, Zomato said that Rs 4,196 crore had been raised from several prominent institutional investors as a part of an anchor book allocation. at a price of Rs 76 per share, Zomato has allocated 55.2 crore equity shares, to anchor investors. Some of the anchor investors are the Government of Singapore, BlackRock, Goldman Sachs and Abu Dhabi Investment Authority.

Statistics by BSE at end of Day 1 of Zomato IPO

Zomato aims to raise Rs. 9,375 crore with this share offering. Reportedly, by the end of the first day of the IPO, the issue had been subscribed 1.05 times as per the Bombay Stock Exchange. Data launched by the Bombay Stock Exchange showed:

• 36,84,75,120 Foreign Institutional Investors (FIIs)

• 3,900 Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)

• 38,11,665 Corporates

• 2,08,36,530 Individuals (Other than RIIs)

(IMAGE: PTI)