With the opening of the IPO of Zomato, the country’s leading food delivery company, got a good response from investors and was fully subscribed on the very first day. After the success of the Rs 9375 crore IPO, the company can expand business and increase hiring. According to London-based data analytics and consulting firm GlobalData, the company may expand its business and increase hiring to maintain its position in the Indian online food delivery market.
This IPO of Rs 9,375 crore of Zomato was open for common investors yesterday on July 14 and can apply till Friday. The company has already raised Rs 4200 crore from its anchor investors even before the IPO opens for general investors. The company has fixed a price range of Rs 72 to 76 for this IPO.
Zomato IPO fully subscribed on day one; Issue is open till Friday, know the opinion of experts about the listing price
50 percent of the workers in sales and related works
According to the data available till the end of last year i.e. 31st December 2020, there are 3469 employees working in Zomato, of which about 50 percent are engaged in sales and related works. However, the company may increase hiring to meet the new growth prospectus and meet the talent requirement under the regulatory process. According to Ajay Kumar Thalluri, Business Fundamentals Analyst, GlobalData, the company will increase spending to attract more and more talent to compete with global giants in the food delivery space.
They can get priority in hiring
When Zomato’s American counterpart DoorDash went public in December 2020 last year and after it was listed on the New York exchange NYSE, it had hired many people after that. According to GlobalData’s job analytics database, DoorDash hired 139 people in December 2020, followed by 293 new jobs in the next three months to March 2021. Similar trade can also be seen in Zomato and new employment opportunities can be created in many working departments of the company.
According to Thalluri, the company’s focus will be on recruiting legal and accounting staff to meet regulatory procedures as a listed company. According to Thalluri, those having proper experience and knowledge of technical accounting can be given priority in hiring. With the investment of more capital in the company, there may now be an emphasis on strengthening the product and technology team, due to which there is a possibility of increasing hiring.