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Zomato, an online food delivery platform, got bids for about 749 million shares against 719.2 million shares on offer. Its IPO is set to be India’s biggest since March 2020, according to data compiled by Bloomberg, and the largest sale was 40% subscribed on its first day.“Startups that are big enough and mature have outgrown the venture capital and private equity funds’ ability to invest,” said Manisha Girotra, country head for Moelis & Co. “These companies which need larger pool of capital to grow are the ones readying to go to the public market.” Internet-based consumer companies have become more popular as the pandemic fueled the adoption of digital technologies. The high investor recognition is a boon when they sell stock. Blackrock Inc. and Fidelity International Ltd. were among the dozens of anchor investors that piled into Zomato’s float, resulting in the company receiving about 35 times more bids than it had expected to sell, people with knowledge of t ....
Zomato got bids for about 749 million shares against 719.2 million shares on offer. Zomato Ltd. s $1.3 billion initial public offering was fully subscribed on the first day, a vote of confidence for a market where a cluster of homegrown startups are preparing to go public. Zomato, an online food delivery platform, got bids for about 749 million shares against 719.2 million shares on offer. Its IPO is set to be India s biggest since March 2020, according to data compiled by Bloomberg, and the largest sale was 40% subscribed on its first day. Startups that are big enough and mature have outgrown the venture capital and private equity funds ability to invest, said Manisha Girotra, country head for Moelis & Co. These companies which need larger pool of capital to grow are the ones readying to go to the public market. ....
With homegrown unicorns, India's IPO market heats up | Business and Economy News aljazeera.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aljazeera.com Daily Mail and Mail on Sunday newspapers.
Ant-Backed Zomato, Paytm Set to Supercharge Hot India IPO Market bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Zomato, Paytm set to supercharge India's hot IPO market indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.