Food delivery start-up Zomato is again going to enter the online grocery delivery business. The company will soon launch an online grocery facility on its app. The company has recently invested about 750 crores in online grocery firm Grofers. It was only after this that news of Zomato’s re-entry into the online grocery delivery business started pouring in. With the announcement of bringing its Rs 9375 crore IPO, the company said that it intends to enter the online grocery delivery business soon. Last year Zomato launched its online grocery delivery business but it soon shut it down. Zomato’s competitor Swiggy is already present in this business.
Zomato IPO: Waiting for 9375 crore IPO is over, Zomato’s IPO will open next week
The company can also enter the functional food business
Recently, Tata Digital had bought a major stake in Big Basket. After this, Zomato had announced to enter the online grocery delivery business. Zomato delivers vegetables, fruit condiments and groceries to restaurants and food chains under HyperPure. Earlier this year, Zomato also entered the health and dietary supplements market. Zomato’s founder and CEO Deepinder Goyal has hinted at entering the functional food business soon.
Jomato’s Rs 9375 crore IPO will come on July 14
Zomato’s Rs 9375 crore IPO will open for subscription on July 14 and close on July 16. Allotment of shares can be done on July 22. This IPO will be listed by the end of this month. According to market sources, it can be listed on July 27. According to the information filed in BSE, a price band of Rs 72 to 76 has been kept for this IPO. In view of the huge demand among institutional investors, the company has increased the size of its IPO.