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Zomato IPO kickstarted on a flying note as retail investors made a beeline to grab a bite of the unicorn startup. In fact, the IPO saw huge demand coming from young and first-time investors. “More than 22% of Day-1 applicants for Zomato IPO on Paytm Money were new to industry investors. Twenty seven per cent of Day-1 Zomato IPO Applicants on Paytm Money were under the age of 25 and 60% were under the age of 30. Historically, 55% of IPO applicants on the platform have been under the age of 30″, said the company.
Paytm Money is the wealth management division of digital payment company Paytm. Paytm Money had also launched a feature ahead of the Zomato IPO which would give investors the ability to apply for IPOs before the actual IPO launch. Zomato was the first IPO on Paytm Money to go live with the “Pre-open IPO Application” feature, which allows users to place an IPO order 24×7, a couple of days before the IPO goes live.
As for the Day 1 trends, the company said that average investment in Zomato IPO on Day-1 was 20% higher than average investment in previous IPOs on Paytm Money. The company has uncovered some interesting demographic insights on Indian capital markets, based on a study of investors who successfully completed the Zomato IPO application on its platform on day 1. A Paytm Money spokesperson suggested that a large proportion of the Zomato IPO applicants could be young or new to capital markets investors.
The company noticed that other than top cities like Delhi, Bengaluru, and Mumbai, Zomato IPO saw first-time participation from smaller towns like Kodinar in Gujarat, Tuensang in Nagaland, and Rangapara in Assam.
Another interesting data point, the company suggested was that women contributed 10% of overall applications on Day-1 with a marginally higher ticket size vs. male counterparts.”
“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 startup ecosystem truly taking center stage,” said Varun Sridhar, chief executive officer of Paytm Money.