Zomato's Rs 9,375 crore IPO opens from today; know price band, listing day and other details here
New Delhi | Jagran Business Desk: Food delivery platform, Zomato's initial public offering (IPO) is all set to hit the markets today. Zomato's IPO is worth Rs 9,375 crore and is the largest IPO after SBI Cards and Payments Services' issue last year. Zomato has priced its IPO at Rs 72 to 76 per share with the subscription of the IPO starting from today till July 16.
This came after market regulator Securities Exchange Board of India (SEBI) gave a go-ahead to Zomato last week. The total IPO size is Rs 9,375 crore, comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by Info Edge (India) Ltd. Ahead of the opening of the subscription, Zomato has raised over Rs 4,196 crore from 186 anchor investors in lieu of 55,21,73,505 equity shares at Rs 76 each, according to the stock-exchange filing.
Here's all you need to know about Zomato IPO:
Zomato has fixed the price band for its IPO at Rs 72-76 per equity share.
Zomato's IPO consists of a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by Info Edge
The IPO will open for subscription on July 14 and the bidding will close on July 16.
Investors can bid for a minimum of 195 equity shares and in multiples of 195 equity shares thereafter.
The retail investors can apply for a minimum of Rs 14,820 worth of shares. At a higher price band of Rs 76 per equity share, an investor can book a maximum of Rs 1,92,660 shares.
Zomato has also fixed the quota for retail investors at 10 per cent of the net offer. 75 per cent has been reserved for Qualified Institutional Buyer quota while 15 per cent is fixed for NIIs.
Zomato is likely to be listed on the bourses by July 27. The finalisation of the basis of allotment is likely by July 22. The refund will be initiated by July 23.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Credit Suisse Securities (India) the Global Coordinators and BLRMs. BofA Securities and Citigroup Global Markets India will manage the issue.
Zomato posted a consolidated loss of Rs 816.43 crore in the financial year ended March 2021. Revenue from the operations dropped to Rs 1,993.78 crore during the same period.
Posted By: Talibuddin Khan