Zomato founder Deepinder Goyal could not hide his excitement, as investors rapidly subscribe to the food delivery giant’s IPO on the first day of bidding.
Zomato founder Deepinder Goyal could not hide his excitement, as investors rapidly subscribe to the food delivery giant’s IPO on the first day of bidding. Deepinder Goyal took to social media website Twitter and said that he had just ordered a triple breakfast from Zomato, claiming he was stress eating as Zomato lined up to become the first homegrown tech start-up to enter the stock exchanges. Deepinder Goyal was joined by the ever-so-witty official handle of Zomato, dropping subtle one-liners in an attempt to remind people of the IPO.
Known for their clever and funny tweets, the official Twitter handle of Zomato said, “mereko to aisa dhak dhak horela hai.” The hindi dialogue from the Hera Pheri movie franchise has become a popular meme on social media for people to express nervous excitement.
Just ordered a triple breakfast @zomato. Stress eating ????????
— Deepinder Goyal (@deepigoyal) July 14, 2021
Zomato has offered its customers heavy discounts over the years and plans to continue doing so even though it is not yet profitable. On Similar lines, the Twitter handle of Zomato tweeted, “sorry there are no discount codes on some orders,” another reference to the IPO of the company. Further, Zomato also asked people on Twitter, “who all are applying”, only to be followed by the words “ghee to their paranthas this morning”, instead of the IPO.
mereko to aisa dhak dhak horela hai
— zomato (@zomato) July 14, 2021
Joining in on the banter with Zomato was the official Twitter handle of Kotak Securities. “Chill karo, humare saath subah ki chaIPO,” Kotak Securities said on Twitter while responding to Zomato’s tweets, as the brokerage firm attempted to attract investors to use its platform to apply for the Zomato IPO.
So far on the initial day of subscription, retail investors have oversubscribed their portion of the issue. Qualified Institutional Buyers (QIB) so far have steered clear of the Zomato IPO, NIIs have bid for 0.01% of the quota. Employees of Zomato have bid for only 2% of the portion reserved for them. Ahead of the IPO, Zomato informed the stock exchanges that it had managed to raise Rs 4,200 crore from 186 anchor investors. Marquee names among investors include Tiger Global, Black rock, Goldman Sachs, JP Morgan, Morgan Stanley and Government of Singapore, among others.