Zomato IPO: 60 Percent of Day 1 Applicants Were Under 30, Says Paytm Money

Zomato IPO: 60 Percent of Day 1 Applicants Were Under 30, Says Paytm Money

Zomato IPO, which was launched on Wednesday, July 14, appears to have attracted a major demand from younger buyers in India as per buying and selling app Paytm Money on Thursday. It reported that 27 p.c of the IPO’s candidates on the Paytm Money platform on the primary day of the launch have been underneath the age of 25 and 60 p.c have been underneath 30. More than 22 p.c of the day-one candidates for the Zomato IPO on Paytm Money have been new to capital market buyers. The utility window for the IPO is open till Friday, July 16.

Paytm Money mentioned that the common Zomato IPO investor was a 12 months youthful than candidates for earlier IPOs on its platform. Historically, 55 p.c of IPO candidates on the platform have been underneath the age of 30, the digital brokerage arm of Paytm mentioned in an announcement.

In phrases of demographics, Paytm Money mentioned that aside from prime cities akin to Bengaluru, Delhi, and Mumbai, first time participation was seen from smaller cities like Kodinar in (*60*), Tuensang in Nagaland, and Rangapara in Assam. Women contribution was additionally 10 p.c the general purposes acquired on the primary day of the IPO, with a marginal increased ticket measurement over what was acquired from their male counterparts.

The common ticket measurement of IPO purposes for Zomato on the primary day of its launch was additionally 20 p.c increased than that of different IPOs on Paytm Money, the corporate mentioned. It, nonetheless, did not reveal the precise quantity of candidates acquired resulting from regulatory restrictions.

Paytm Money launched a pre-open IPO utility function forward of the Zomato IPO launch earlier this week. It permits customers to put an IPO order even a pair of days earlier than the IPO goes reside.

Zomato is aiming to raise Rs. 9,375 crores by means of its IPO, underneath which retail buyers can apply for as much as 13 heaps the place every lot comprises 195 shares between Rs. 72–76. The Gurugram-based meals supply aggregator has Info Edge, Uber, Alipay Singapore, and Antfin Singapore as some of its main buyers.

Paytm Money famous that the retail portion of the Zomato IPO was subscribed by over 200 p.c throughout the first couple of hours of its opening. A Paytm Money spokesperson mentioned that a big proportion of the Zomato IPO candidates could possibly be younger or new to capital markets buyers.

As per the data available On the BSE portal, the Zomato IPO was subscribed 4.80 instances on the second day, with bids for 4.73 instances subject measurement notably acquired from retail buyers.

Disclosure: Paytm’s guardian firm One97 is an investor in NDTV’s Gadgets 360.

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