Zomato IPO: The IPO of Zomato, a platform that takes food orders through the mobile app, will close on July 16. The price range under the IPO has been fixed at Rs 72 to 76 per share. The company plans to raise Rs 9,375 crore from the IPO.
This IPO is worth 9375 crores.
Food delivery platform Zomato’s IPO worth Rs 9,375 crore will open from today. There is talk that the company’s IPO will get a tremendous response from global institutional investors. The IPO will close on July 16. The price range under the IPO has been fixed at Rs 72 to 76 per share. The company plans to raise Rs 9,375 crore from the IPO.
The company is supported by Jack Ma’s Ant Group Company. Zomato is the first company in India’s long list of unicorn startups to IPO. It is the first online food aggregator to launch an IPO.
IPO will overtake these companies
Based on its IPO, the valuation of Zomato comes to Rs 64,365 crore. It is believed to be the second highest IPO after SBI Cards and Payment Services (Rs 10,341 crore) which came in March 2020. This will overtake the Indian Railway Finance Corporation (IRFC) IPO in January.
Rs 4,196 crore raised from anchor investors
Food ordering platform through mobile app Zomato on Tuesday said it has raised Rs 4,196 crore from anchor investors ahead of its maiden public share issue. Zomato’s IPO of total Rs 9,375 crore is opening today.
According to a circular issued on the website of the stock exchange BSE, the company has decided to issue a total of 552,173,505 shares to anchor investors at the rate of Rs 76 per unit. The total value of these shares comes to Rs 4,196.51 crore.
These investors include many foreign investors such as BlackRock, Tiger Global, Fidelity, Newworld Fund, JP Morgan, Morgan Stanley Asia, Pte-ODI, Goldman Sachs (Singapore), TRO, Canada Pension Fund, Singapore Monetary Authority and Abu Dhabi Investment Authority. . Apart from this, they have a long list of domestic institutional investors.
company business
The company suffered a loss in March last year due to the COVID pandemic. However, Zomato said in September 2020 that the online food delivery space has recovered in many large pockets in India and even now pre-COVID levels are high, as most people are online. order food. Zomato co-founder and CEO Deepinder Goyal believes that the growth of this sector will accelerate post-vaccination.
Zomato’s FY20 revenue was Rs 2,486 crore. Due to Corona, the loss increased to Rs 2,451 crore. The food delivery and restaurant aggregator platform was founded by Goyal and Pankaj Chadha in 2008 as Foodibay and was renamed Zomato on 18 January 2010.
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