Zomato IPO subscribed 1.05x on Day 1, with retail investors leading demand

Zomato’s initial public offering was subscribed 1.05 times on its first day of bidding, with retail investors driving early participation.

— FiledThu, 24 Sept, 2026, 04:02 IST·First seen Thu, 24 Sept, 2026, 04:01 IST·Source Inc42 · D2C

What happened

Zomato’s IPO was subscribed 1.05 times on its first day, with retail investors leading demand.

Key facts

  • 1.05 times oversubscribed

Why this matters

Zomato’s early IPO traction establishes a useful public-market benchmark for foodtech valuations and may expand its capacity to pursue partnerships, acquisitions, and ecosystem investments.

What to watch

  • QIB book becoming meaningfully oversubscribed in the final bidding days.
  • Final overall subscription materially above the day-one level, particularly through institutional demand.
  • Anchor investor quality, allocation concentration, and foreign institutional investor participation.
  • Grey-market premium direction before listing and opening-day turnover after debut.
  • Post-IPO commentary on cash burn, competitive discounting, and food-delivery order-growth trends.
  • Monitor category-wise subscription daily, especially QIB and non-institutional investor participation versus retail demand.
  • Track any changes to grey-market premium and analyst commentary on issue valuation relative to global food-delivery peers.
  • Watch management communication on path to profitability, delivery economics, Blinkit-related strategy, and use of IPO proceeds.
  • Expect competitors and late-stage Indian consumer-internet startups to reassess IPO timing if Zomato sustains strong demand.

Also reported by