So reports coming in says that lyft’s IPO is “oversubscribed” considering the commitments made by investors so far, and the company have also been reported to even exceed the $23 billion valuation it is seeking.
Recall that the company on monday began it IPO journey and have spent the last two days meeting with investors in New York. It has set an indicative IPO price range of $62 to $68 per share and is set to price the IPO on March 28. The exact level of oversubscription could not be learned. The sources cautioned that the IPO price is still uncertain and asked not to be identified because the matter is confidential.
Lyft on the other hand have refused to comment on it.