Zomato IPO: Waiting for 9375 crore IPO is over, Zomato's IPO will open next week

 

Zomato IPO: Waiting for 9375 crore IPO is over, Zomato's IPO will open next week



Zomato IPO: Traders and investors were waiting for Zomato's IPO for a long time and now their wait is going to end as it is going to come next week on 14th July.

Zomato IPO:  Traders and investors were waiting for Zomato IPO for a long time and now their wait is about to end as it is going to come next week on 14th July. Online food delivery platform Zomato plans to raise Rs 9375 crore through the issue at a price band of Rs 72-76 per share. The issue offer includes Fresh Equity Shares and Offer for Sale (OFS) by Info Edge, the parent company of Naukri.com. The company's investors also include Ant Financials, Info Edge, Sequoia and Uber and the company has no promoters. In the company's mega IPO, 75 per cent is reserved for qualified institutional buyers (QIBs) and 15 per cent for non-institutional investors (NIIs). 10% of the public issue is reserved for retail investors. In the IPO, 65 lakh equity shares have been reserved for the employees of the company.

PRICE BAND FIXED AT RS 72-76

For Zomato's IPO, investors will be able to place bids in the price band of Rs 72-76 per equity share. The face value of the shares is Rs. According to the information, bids will have to be made for at least 195 equity shares and after that you will be able to place bids in multiples of 195. Zomato has received approval from market regulator SEBI last week to raise funds through IPO.

LOSS MAKING COMPANY

According to the Red Herring Prospectus (RHP) filed by Zomato, the funds raised from the IPO will be Rs 6750 crore to fund the company's organic and inorganic growth initiatives and the remaining amount will be used for general corporate purposes. . In the financial year 2020, Zomato had an income of Rs 2742 crore. The company earned Rs 1367 crore during the pandemic and still the company Zomato is running in loss. Recently, after a fundraising, the valuation of Zomato was estimated at $ 5400 million (Rs 40.4 thousand crore). Recently, some investors including Tiger Global, Fidelity and Quora Management had invested $ 250 million (Rs 1870 crore) in Zomato.

ZOMATO WILL BE THE COUNTRY'S FIRST IMPORTANT INTERNET LISTING

Foreign brokerage and research firm Jefferies had said in early 2021 this year that the IPO of Zomato would be the first significant internet listing in India. According to Jefferies, food delivery continues to be a strong base for the company with over 80 per cent of its revenues, although now there may be stiff competition in this field. According to the brokerage firm, the amount of food consumed in India is equal to India's quarterly GDP and 10 percent of it is spent on food services only. This is 50 percent more than spending in the US and China. According to Jefferies, only two companies, Zomato and Swiggy, are occupied in food delivery in India, but competition may increase soon. (Article: Kshitij Bhargava)



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