Resurfacing Zomato's July 2021 IPO Day: Rs 9,375 Cr Issue Saw Tepid 1.05x Day-1 Subscription, Retail Investors Carried the Book
Looking back at July 14, 2021: retail demand hit 2.62x and employees 1.6x, but institutional appetite was weak — QIBs at 0.6x and NIIs barely moving at 0.02x — leaving the overall book just above full subscription on opening day.
Zomato's Rs 9,375 Cr IPO was oversubscribed 1.05x on day one, driven by strong retail investor demand of 2.62x, while institutional demand lagged significantly.