Zomato’s IPO is opening today, the price per share will be Rs 72 to 76, the company wants to raise 9,375 crores
New Delhi. Online food delivery company Zomato’s IPO will open today. It will close on 16th July. Its issue price is between Rs 72 to 76. During this, Zomato’s goal will be to raise a huge amount of 9 thousand 375 crores through this IPO issue. In the company’s IPO, a primary sale of Rs 9,000 crore will be listed, while the share offer for sale of Rs 375 crore will be available. According to a circular, the company has decided to allot 552,173,505 equity shares to the anchor investors at the rate of Rs 76.
Price per share will be Rs 72 to 76
According to the exchange filing, the price per share for investment in Zomato’s IPO has been kept at Rs 72 to 76. The issue with the price band will be open for public subscription from July 14-16. The issue offer comprises Fresh Equity Shares and Offer for Sale (OFS) by Info Edge, the parent company of Naukri.com.
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These companies are included in the anchor investors
Under the Zomato IPO, Rs 4,196.51 crore has been raised from 186 anchor investors at a price of Rs 76. Domestic investors participating in the anchor bidding include Kotak Mutual Fund, Aditya Birla Sun Life MF, Axis MF, SBI MF, UTI MF, HDFC MF, ICICI Prudential MF, IDFC MF, Sundaram MF, Edelweiss MF, ICICI Prudential. Apart from these, Life Insurance Company and HDFC Life Insurance Company are also participating.
The company was started in the year 2008
Zomato was started in the year 2008. Earlier its name was Foodie Bay. Its name was changed to ZOMATO in the year 2010. The company’s main competition is from Accel-backed Swiggy and Amazon. According to a report, new shares worth Rs 9 thousand crore will be issued. At the same time, the company’s top shareholder Info Edge (India) will sell shares worth Rs 375 crore.
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The company has suffered huge losses in the financial year 2021
In the financial year 2021, the company has suffered a huge loss, after which it has decided to bring a public issue for debt payment and other needs. Zomato’s revenue in the first three quarters of 2021 was Rs 1,367 crore. The food-tech company’s expenditure was around Rs 1,724 crore, resulting in a loss of Rs 684 crore.