Zomato Limited which had tapped the capital markets with its fresh issue of Rs 9,000 crs and an offer for sale of Rs 375 crs, in a price band of Rs 72-76, was subscribed 40.38 times. The issue had opened on Wednesday the 14th of July and closed on Friday the 16th of July.

Earlier the company had allotted 55,21,73,505 equity shares at Rs 76 to 100 anchor investors comprising of 186 entities. This makes this the largest allocation in terms of number of entities in recallable history.

The QIB portion was subscribed 54.71 times, HNI portion was subscribed 34.80 times, Retail portion was subscribed 7.87 times and Employee portion remained undersubscribed at 0.62 times. Retail portion saw 32.29 lac applications and on the basis of lots, the issue was subscribed 5.13 times. This means that the average application was for 1.53 lots.

There were unconfirmed reports about the anchor portion being subscribed or receiving bids of 35-37 times the anchor size. While the official number would be publicly available on the day of allotment, what does this effectively mean? The oversubscription would have garnered response of 1.47-1.55 lac crs. The total response from the QIB book was 1.53 lac crs. The maths just does not add up. Does it mean that only those people who had applied for anchor allotment have applied?

The HNI book saw fund raising of Rs 48,686 crs and the overall issue garnered Rs 2.13 lac crs including the anchor portion. While the number looks good considering the size of the issue, it remains to be seen what the actual anchor subscription was?

Full details of the subscription category wise is given below: –