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Last week marked a watershed for technology startups in India, as a record bout of fundraising shifted attention to the world’s second-most populous market, just as investors were becoming spooked by a crackdown on internet companies in China. Food-delivery app Zomato Ltd. became the nation’s first unicorn to make its stock-market debut, raising $1.3 billion with backing from Morgan Stanley, Tiger Global and Fidelity Investments. The parent of digital payments startup Paytm filed a draft prospectus for what could be India’s biggest IPO at $2.2 billion, while retailer Flipkart Online Services Pvt raised $3.6 billion at a $38 billion valuation, a record funding round for an Indian startup.
Mumbai: The ₹9,375-crore initial public offering (IPO) of Zomato was subscribed 5.06 times on Thursday, the second day of the offer, driven by demand from institutional and retail investors. Rich investors kept to the sidelines but bankers expect them to take the plunge on Friday the final day of the offering.
Investor bids for the IPO came in for almost 344.77 crore shares on BSE and NSE combined against the issue size of 68.14 crore shares.
The portion reserved for retail investors was subscribed 4.99 times while the qualified institutional buyers segment was subscribed 7.45 times. The amount reserved for non-institutional investors or high net worth individuals (HNIs) was subscribed 48%. Generally, the HNI bids come on the last day of the offer to keep the cost of borrowing lower. The Zomato IPO was fully subscribed on Wednesday, the day of its launch. The retail portion received more bids than what was set aside for them within an hour of the issue opening.
Sector Mutual Funds: Who should invest and why
Mutual Funds have become one of the most popular investment avenues in recent times. The numbers of investors are increasing steadily. This is because of the high returns investors get by parking their funds in equity. However, mutual funds are not all about equity related instruments. There are multiple funds that invest in different asset classes like equity, debt, real estate, gold, etc. Mutual funds provide ways to diversify investment portfolios. The diversification is advised because it opens windows of investments and thus gives a higher return than any other traditional form of investment. Besides, this minimises the risk investors face while participating in equity.