FoodTech startup Zomato's IPO subscribed by 44x

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Zomato as Friday was the end of the three-day period for subscription of its shares and the issue was oversubscribed by 44 times. The Zomato IPO was open for subscription between July 14 and 16, and the shares were priced in the range of Rs 72-76.

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The last day saw a very strong response from qualified institutional buyers (QIBs) and non-institutional investors (NII). The QIBs subscription was 51.79 times of their allotted share, while NII category, which showed tepid response on the first two days, was subscribed 32.96 times. The retail portion was subscribed 7.45 times for the public issue.

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