According to trading app Paytm Money on Thursday, the Zomato IPO, which was announced on Wednesday, July 14, appears to have generated substantial interest from young investors in India. According to the study, 27 percent of IPO applicants on the Paytm Money platform on the first day of the debut were under the age of 25, and 60 percent were under the age of 30. More than 22% of those who applied on the first day for the Zomato IPO on Paytm Money were first-time capital market participants. The IPO application window is available through Friday, July 16.
According to Paytm Money, the average Zomato IPO investor was a year younger than prior IPO applicants on its platform. Historically, 55 percent of IPO candidates on the platform have been under the age of 30, according to a statement from Paytm's digital brokerage subsidiary.
Paytm Money stated that, aside from big cities like Bengaluru, Delhi, and Mumbai, first-time involvement was witnessed from minor towns such as Kodinar in Gujarat, Tuensang in Nagaland, and Rangapara in Assam. Women contributed 10% of the total applications submitted on the first day of the IPO, with a little larger ticket size than their male colleagues.
According to the firm, the average ticket amount of Zomato IPO applications on the first day of its introduction was also 20% greater than that of prior Paytm Money IPOs. However, due to legal constraints, it did not publish the precise number of applications received.
Before the Zomato IPO debut earlier this week, Paytm Money offered a pre-open IPO application function. Users can make an IPO order even a few days before the IPO goes live.
Zomato is trying to collect Rs. 9,375 crores through its IPO, in which retail investors can apply for up to 13 lots of 195 shares worth Rs. 72–76 apiece. Info Edge, Uber, Alipay Singapore, and Antfin Singapore are among the key investors in the Gurugram-based food delivery aggregator.
According to Paytm Money, the retail part of the Zomato IPO was oversubscribed by more than 200 percent within the first few hours of its launch. According to a Paytm Money spokesman, a substantial number of Zomato IPO applicants may be young or inexperienced capital market investors.
According to statistics available on the BSE platform, the Zomato IPO was subscribed to 4.80 times on the second day, with retail investors bidding for 4.73 times the issue size in particular.
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