"On day five of the Zappfresh IPO, 94% of subscribers signed up; retail interest is still low. "

Today is the fifth day of Zappfresh's public offering, which was extended on September 30. By the end of October 3, 94% of the issue was subscribed, according to data from Chittorgarh. The company's IPO was most eagerly anticipated by qualified institutional buyers (QIBs), who oversubscribed their quota by 1.45 times. Against the 11.16 lakh shares that were set aside for them, these investors placed bids for 16.16 lakh shares. Additionally, non-institutional investors (NIIs) bid for 10.50 lakh shares against the 8.39 lakh shares designated for them, oversubscribing their quota by 1.25X.However, as of Day 5, the overall subscription was down due to a lack of interest from ordinary investors. A 51% subscription resulted from retail investors bidding for just 9.96 lakh shares, compared to the 19.54 lakh shares that were set aside for them. The BSE SME IPO was originally scheduled to close on September 30, but due to low investor interest, it has been extended to Monday, October 60, for subscriptions. Only 52% of the offering had been subscribed for at that point, with investors purchasing 22.44 lakh shares out of the 42.39 lakh available.Consequently, the meat delivery company changed its price range from INR 96 to INR 101 to INR 95 to 100 and prolonged the IPO.

The company now wants to raise roughly INR 59 Cr from the public float at a valuation of about INR 223 Cr, which is at the upper end of the revised bracket.ZappfreshZappfresh Datalabs_in-article-icon raised INR 16.8 Cr from 11 anchor investors prior to the issue opening by offering 16.7 Lakh shares at INR 101 per. With an investment of more than INR 4 Cr, Craft Emerging Market Fund held the greatest proportion among them, followed by Viney Growth Fund with INR 2.5 Cr and Narnolia India Opportunity Fund with INR 2 Cr.