The food delivery platform attracted investments from international names like Goldman Sachs and JP Morgan ahead of its IPO launch on July 14. Online food delivery platform Zomato raised Rs 4,197 crore from 186 anchor investors ahead of its initial public offering (IPO) that opens today, a filing with the NSE revealed. Why this matters? Anchor investors are qualified institutional investors who are invited to subscribe to the shares before the IPO. The price they subscribe at reflects the investors' confidence and the demand for the company's shares. Zomato's investors subscribed at a price of Rs 76 per equity share, the highest-end of the band issued by the company. This comes on the heels of the National Restaurant Association of India (NRAI) asking the Competition Commission of India (CCI) to investigate the “inherently anti-competitive practices” of Zomato and Swiggy. Details of the anchor investment The anchor investors subscribed for a total of 55,21,73,505 equity shares, which represents around 42 percent of the IPO. Overall, 75 percent of the issue size has been reserved for qualified institutional buyers, 15 percent for high net worth individuals, and 10 percent for retail investors. The investors include international names like Tiger Global, BlackRock, Fidelity, Goldman Sachs, JP Morgan, the Government of Singapore, and Morgan Stanley. Nineteen Indian mutual funds run by the likes of SBI, Kotak, HDFC, Axis, and Motilal Oswal subscribed to 184,104,960 equity shares, about 33 percent of the total funds from anchor investors. The complete list of anchor investors can be found here. Details of the…
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