Online food delivery giant Zomato which had launched its Initial Public Offering (IPO) for retail investors between July 14 and July 16 is likely to finalise the share allotment on Thursday, before listing the shares on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 27.
Said to be the largest public offering of the year so far, the ₹9,375 crore Zomato IPO received an overwhelming response from investors and saw oversubscription of 38.25 times during the three-day period on the back of strong response from Qualified Institutional Buyers (QIB) and retail buyers.
Zomato has raised ₹4,196 crore from some of the prominent institutional investors as part of an anchor book allocation. It has allocated 552.17 million equity shares to anchor investors at a price of ₹76 per share. Among the investors that participated in the anchor book include the Singapore government, BlackRock, Goldman Sachs and Abu Dhabi Investment Authority.
Investors put in more than ₹2 lakh crore worth of bids including ₹1.5 lakh crore by qualified institutional buyers itself for whom up to 75% of the offer was reserved.
The company, which is backed by Ant Group, will be valued at up to $8 billion following the IPO which is the first for a food delivery platform in the country, according to a report published in Reuters.
Important dates to watch out for
However, all eyes are now on the allotment of shares, which is likely to be on July 22. After the shares are alloted, Zomato would initiated refunds for the unseuccessful bidders on July 23, while the equity shares would be credited to the demat accounts of the investors by July 26. The trading of Zomato’s equity shares in the open market would commence from July 27.
Check for allotment of Zomato shares
There are two ways retail investors can check the status of the allotment of Zomato IPO shares before they are listed on BSE and NSE portals.
On the BSE website:
- Visit the official website of the BSE (https://www.bseindia.com/investors/appli_check.aspx)
- A page titled ‘Status of Issue Application’ will open. Select ‘Equity’ as the option.
- Select ‘Zomato Limited’ from the drop-down list beside Issue Name
- Enter the application number, followed by the Permanent Account Number (PAN) in the next field.
- Click on ‘I am not a robot’ in the final step, before clicking on ‘Search’ to know the status of the application.
On Link Intime website:
- Visit the URL (https://www.linkintime.co.in/IPO/public-issues.html)
- Select ‘Zomato Limited — IPO’ from the drop-down list under company
- In the next step, enter either the PAN or the application number or DP Client ID or Account Number/IFSC after selecting the option.
- Click on ‘Submit’.