Resurfacing Zomato's July 2021 IPO Day 1: ₹9,375 Cr Issue Oversubscribed 1.05x, Retail Investors Led Charge
Revisiting July 2021 data: Retail investors subscribed 2.79x their quota in Zomato's ₹9,375 crore IPO (price band ₹72-76, valuing the company near $8B), but institutional demand lagged sharply—QIBs at just 0.02x and non-institutional at 0.36x—leaving day-one overall subscription at 1.05x.
What happened
Zomato's ₹9,375 crore IPO oversubscribed 1.05x on day one, led by retail investors subscribing 2.79x their quota; institutional demand remained weak.
Key facts
- ₹9,375 crore IPO
- 1.05x oversubscribed
- retail investors 2.79x
- non-institutional 0.36x
- QIB 0.02x
- price band ₹72–₹76
- fresh issue ₹9,000 crore
- OFS ₹375 crore
- $8 billion valuation
Why this matters
Weak institutional appetite for Zomato's IPO despite strong retail demand suggests foodtech valuations remain contentious among informed buyers, a signal worth weighing before pursuing similar consumer-tech listings or M&A comps.