Zomato released their anchor book ahead of their IPO on Tuesday, July 13. The company has allocated 552.17 million equity shares worth Rs 4,196 crore to anchor investors at a price band of Rs 76/share ahead of its subscription day.
A total of 186 anchor investors got allotment in the share sale with big names like New World Fund, Tiger Global, and BlackRock picking shares. SBI MF, HDFC MF, and Axis Mutual Fund were some of the domestic Mutual Funds that were seen in the list.
However, sources close to the matter suggested that the anchor list received 30-40x demand, and the offer received bids for Rs 1.45 lakh crore against the anchor size of Rs 4,196 crore.
Experts and brokerages suggested investors with a high-risk appetite to subscribe the IPO for listing gains or for the short term. Being the first such company to hit the Indian bourses, a lot of interest and buzz for the IPO can be seen in the market which is likely to drive the prices on the listing day experts said.
The anchor book is said to be the largest till date with no investor securing more than three percent in the offer. An anchor book, which is released a day before the IPO, defines the offer’s demand in the market among the investors.
The IPO of the company opens on Wednesday, July 14, and will close on Friday, July 16. Offer size is placed at Ra 9,375 crore, which includes an Offer –for-sale of Rs 375 crore by its existing shareholder InfoEdge. The price band is fixed at Ra 72-76 per share.