The Indian food delivery startup Zomato got about 35 times more bids from 186 anchor investors than it intended to sell in its blockbuster initial public offering.
As per the notice on Bombay Stock Exchange, notable names among the 186 funds were global PE majors Tiger Global and Blackrock, also including financial powerhouses like Fidelity, Morgan Stanley and the government of Singapore.
Among the domestic majors were SBI MF, HDFC Mutual Fund, Motilal Oswal AMC and ICICI Prudential Mutual Fund.
75 per cent of the issue has been reserved for qualified institutional buyers (QIB) of which anchor investors make up for about 45 per cent of the total issue size.
While, the 25 per cent shares have been reserved for high net with individuals and retail investors.
According to anonymous sources, Zomato is selling over 9000 crore rupees worth of new shares in the IPO. The shareholder Info Edge Ltd. India holds a substantial stake in the app-based food delivery major and is selling part of its stake in the IPO worth rupees 375 crore.
Kotak Mahindra, Morgan Stanley India, Credit Suisse Group AG, BofA Securities and Citigroup are managing the IPO of the food delivery startup Zomato’s.