Zomato IPO: Food supply platform Zomato’s preliminary public provide (IPO) will open for retail subscription on July 14.
The Zomato IPO market lot measurement is 195 shares. The firm has set the provide price for its IPO at Rs 72-76 per fairness share. A retail-individual investor can apply for as much as 13 heaps (2535 shares or Rs 1,92,660).
The public subject will shut on July 16.
Zomato stated that the idea of allotment of IPO will probably be achieved on July 22 and refunds will probably be initiated on July 24.
The shares of Zomato will probably be credited to demant accounts on July 26. The listing of Zomato shares will happen on July 27.
In the gray market, the unlisted shares of Zomato are quoting at a premium of Rs 15-20 apiece.
The firm had earlier obtained markets regulator Sebi’s go-ahead to boost Rs 8,250 crore by way of an preliminary share-sale. The IPO includes contemporary subject of fairness shares price Rs 7,500 crore and an offer-for-sale to the tune of Rs 750 crore by Info Edge (India) Ltd.
Zomato had filed preliminary IPO papers with Sebi in April. It obtained its remark on July 2.
Going by the draft papers, proceeds from the contemporary subject can be used in the direction of funding natural and inorganic development initiatives; and common company functions.
The on-line meals supply phase has seen vital development in the previous couple of years with Zomato and Swiggy competing head-on to seize market share.
Zomato’s 2019-20 income had jumped over two-fold to USD 394 million (round Rs 2,960 crore) from the earlier fiscal 12 months, whereas its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) loss was round Rs 2,200 crore.
In February, Zomato had raised USD 250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the web meals ordering platform at USD 5.4 billion.
Kotak Mahindra Capital Company, Morgan Stanley India Company Pvt Ltd and Credit Suisse Securities (India) Pvt Ltd are the worldwide coordinators and ebook working lead managers to the difficulty. BofA Securities India Ltd and Citigroup Global Markets India Pvt Ltd have been appointed as service provider bankers to the general public subject. The shares the corporate will probably be listed on BSE and NSE.