Zomato IPO oversubscribed on Day-2
At the end of the second day of the Zomato IPO, there was substantial build-up of interest from QIBs and Retail Investors. At 5.00 PM on Thursday, Zomato IPO QIB portion had been subscribed 7.06 times, with predominant demand coming from FPIs. The HNI (non-institutional) portion was subscribed just about 0.45 times. However, a large chunk of this segment uses the funding route, with funding applications being logged on the last day. The retail portion was subscribed 4.73 times with 78% being cut-off bids. Overall, the Zomato IPO was subscribed 4.79 times at close of second day. Zomato IPO closes on Friday 16 July.
Read : Zomato Fun facts
With just 1 day to go for the issue to close, here are 3 strong reasons to apply for the Zomato IPO.
- Some sectors make the best of tough times and Zomato is one of them. From Work-From-Home (WFH) to lockdowns to social distancing; Zomato was the answer to all problems. When you have weathered a crisis, you are better positioned to participate in better times. The Zomato IPO gives you an opportunity to do exactly that.
- Digital ordering may look simple to the customer, but to create that simplicity, companies like Zomato have to sink in hundreds of crores into process, prices and publicity. The good news is that these 3P costs are down from 88% of revenues in 2019 to 25% in 2021. The IPO is perfectly poised to benefit from net gains.
- Businesses that do not go digital are as good as dead. Portfolios that don’t include digital plays are assured underperformers. Zomato is your opportunity to invest in Digital India at a reasonable price.
You still have Friday 16 July to invest in the Zomato IPO. You miss it at your own risk!
Check : Zomato IPO day 1 subscription
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