| Photo: Shutterstock
Online food delivery platform Zomato's Rs 9,375-crore initial public offering has seen a new set of investors coming into the capital market and there is a visible shift in consumer behaviour, a senior official of Paytm Money said on Thursday.
Zomato IPO was oversubscribed 4.8 times on the second day on Thursday as retail investors continued to pour in bids.
The company got bids for 344.76 crore shares against 71.92 crore shares on offer, stock exchange data showed.
"Zomato IPO is the start of an important change in Indian capital markets as we see a very new set of investors and also the start-up ecosystem truly taking centre stage.
"More than the phenomenal response to the IPO, the visible shift in consumer behaviour is a trend to acknowledge and closely watch," Paytm Money CEO Varun Sridhar said in a statement.
Digital brokerage platform Paytm Money is offering booking of Zomato shares between July 14 and July 16.
According to the insights shared by the platform, 27 per cent applicants were under the age of 25, while 60 per cent were under 30.
Historically, 55 per cent of IPO applicants on the platform have been under the age of 30.
"The average Zomato IPO investor was a year younger than applicants for previous IPOs on Paytm Money. Average investment in Zomato IPO on Day 1 was 20 per cent higher than average investment in previous IPOs on Paytm Money," the brokerage firm said.
Other than top cities like Delhi, Bengaluru and Mumbai, Paytm Money saw first time participation from smaller towns like Kodinar in Gujarat, Tuensang in Nagaland, and Rangapara in Assam.
"Women contributed 10 per cent of overall applications on Day 1 with a marginally higher ticket size compared to their male counterparts," the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.