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<ul><li>Zomato launched the IPO with a price band of ₹72-76.</li><li><keyword id="119846" type="ORGANIZATION" weightage="20" keywordseo="qualified-institutional-buyers">Qualified Institutional Buyers</keyword> bid for 2,013 crore shares.</li><li>It had raised ₹4,197 crore from 186 anchor investors on Tuesday. </li></ul>Food delivery firm Zomato launched its much-awaited initial public offering (IPO) on Wednesday, and it has been oversubscribed by 38 times. By 5 p.m., on July 16, the issue had attracted bids for 2,751 crore compared to the issue size of 71.9 crore shares. According to BSE data, the shares allocated for the Qualified Institutional Buyers (QIBs) bid for 2,013 crore shares. This is 51 times higher than 38.8 crore Zomato had reserved for this segment. The shares allocated for non-institutional investors were subscribed by 32 times and shares meant for employees were subscribed by 62%. Retail Individual Investors (<keyword id="106115" type="PERSON" weightage="20" keywordseo="Rii">RII</keyword>) subscribed to 96 crore shares, which was seven times of the issue size of 12.9 crore shares. Zomato had raised<a href="https://www.businessinsider.in/business/startups/news/zomato-raises-4197-crore-from-186-anchor-investors-oversubscribed-by-35-times/articleshow/84399035.cms"> ₹4,197 crore</a> from 186 anchor investors on Tuesday, July 13. Reports suggest that the issue got about 30-35 times more bids from anchor investors than it intended to sell in the first place. The company had allotted 55.22 crore equity shares to these anchor investors for ₹76 per equity shares. Several marquee investors were allotted more than 2% of the anchor book. This included the Government of Singapore, Morgan Stanley Investment Fund, <keyword id="11633263" type="UNKNOWN" weightage="20" keywordseo="tiger-global-investment-fund">Tiger Global Investment Fund</keyword>, Baillie Gifford Pacific Fund, Fidelity Fund, New World Fund, Canada Pension Plan Investment Fund and Kotak Flexi Cap Fund. The food aggregator business intended to raise ₹9,375 crore with this IPO. About ₹9,000 crore will be a fresh issue and ₹375 crore will be a secondary issue by InfoEdge. The company will open its IPO for retail investors on Wednesday, July 14, at 10 a.m., at a price band of ₹72-76. SEE ALSO <a href="https://www.businessinsider.in/tech/news/amazon-acquires-facebooks-satellite-internet-team-bolstering-its-efforts-to-compete-with-spacex/articleshow/84395065.cms">Amazon acquires Facebook's satellite internet team, bolstering its efforts to compete with SpaceX</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation</a>

Zomato IPO gets oversubscribed by 38 times

<ul><li>The round was led by angel investors Anand Ladsariya and Alok Aggarwal.</li><li>The company offers small to large ticket size loans ranging between ₹10,000 to ₹20 lakh.</li><li>It has also partnered with <keyword id="11640020" type="UNKNOWN" weightage="20" keywordseo="upgrad-nova-ivf">upGrad, Nova IVF</keyword>, Design Cafe, Asian Paints, Arrivae, and Hero Electric.</li></ul>Consumer lending <keyword id="3327423" type="PERSON" weightage="20" keywordseo="fintech-startup">fintech startup</keyword> <keyword id="7934925" type="UNKNOWN" weightage="20" keywordseo="Credit-Fair">Credit Fair</keyword>, on July 14, announced that it has raised $15 million as a part of its seed funding round in a mix of debt and equity. The round was led by two seasoned angel investors, chief executive (CEO) of Everest Flavours Anand Ladsariya and <keyword id="11640017" type="UNKNOWN" weightage="20" keywordseo="striver-capital-advisors">Striver Capital Advisors</keyword>’ CEO Alok Aggarwal, who have previously invested in other digital businesses like <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>, <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, 1Mg, Myntra and more. Credit Fair was founded in 2018 by Aditya Damani to offer financial solutions to Indians from remote parts of the country. The company offers small to large ticket size loans, ranging between ₹10,000 to ₹20 lakh, for a tenure of three months to three years. The company is also a financial partner to several companies like upGrad, Nova IVF, Design Cafe, Asian Paints, Arrivae, Hero Electric and Ampere by Greaves to name a few. The company was founded in 2018 by Aditya Damani to offer financial solutions to Indians from remote parts of the country. Credit Fair plans to use this funding for building its technology team, enhancing underwriting models and expanding into Tier 2 and 3 cities. It will also look to scale its assets under management by sharpening its focus on financing upskilling courses, healthcare needs, down payment assistance for homeowners and financing for electric two and three-wheelers. “Our venture aims to financially empower Indians from remote areas or those without a credit score who traditionally comprise some of the most unbanked and underserved segments across the country. To this end, we are extending credit across key sectors that are crucial for improving India’s social infrastructure, especially in these COVID times... We will utilise the funding to accelerate our advance towards creating a financially inclusive future for Bharat,” Damani said in a press statement. According to a Statista <a href="https://www.statista.com/statistics/1202533/india-digital-lending-volume/">report</a>, digital lending is the fastest-growing segment in the fintech industry globally. It has grown from $9 billion in 2012 to $110 billion in 2019, and is poised to be valued around $350 billion by 2023. SEE ALSO <a href="https://www.businessinsider.in/tech/news/amazon-acquires-facebooks-satellite-internet-team-bolstering-its-efforts-to-compete-with-spacex/articleshow/84395065.cms" style="">Amazon acquires Facebook's satellite internet team, bolstering its efforts to compete with SpaceX</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms" style="">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms" style="">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation</a>

Credit Fair, which offers loans to Indians without credit score, has raised $15 million in seed

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Zomato IPO gets oversubscribed by 38 times

Kritti Bhalla

Credit Fair, which offers loans to Indians without credit score, has raised $15 million in seed

Kritti Bhalla

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