Zomato IPO Detail: If you are looking for a big IPO, then be prepared to do it. The IPO of food delivery app Zomato may soon be knocking in the primary market. Zomato has submitted documents (DRHP) with SEBI for its proposed IPO. According to the documents submitted by Zomato, the company plans to raise Rs 8,250 crore through an IPO. Let us know that the market is eagerly waiting for Zomato’s IPO. Know about the company’s IPO details… ..
IPO: What is the company’s plan
In this IPO of Zomato, along with a fresh issue from the company, there will be an offer for sale from Info Edge (India) Limited, which has invested in Zomato. The IPO will include a fresh issue of Rs 7,500 crore and an offer for sale of Rs 750 crore to be placed by Info Edge. Info Edge Limited has said that it will sell 750 million shares of its holding in Zomato’s IPO through OFS.
How much stake of Info Edge
Currently, Info Edge holds about 19 per cent stake in Zomato. Info Edge has said in a regulatory filing that the company board has approved the sale of shares worth Rs 750 crore in the IPO of Zomato through OFS. It is believed that after the approval of SEBI, the launch date of the IPO will depend on the performance of the stock market.
Where will the fund be used
Zomato says that the proceeds from the IPO will be used to increase the company’s business. Apart from this, the money will also be used for general corporate needs. Talking about financials, the total revenue of the financial year company ending March 2020 was Rs 2486 crore. However, during this time the company has been in loss. The company’s profits have been affected by the lockdown due to the Corona virus.