NEW DELHI: The much-awaited initial public offer (IPO) of food delivery platform Zomato opens for subscription on Wednesday.
The Rs 9.375 crore IPO will remain open for three days till July 16, amid buzz of strong response from global institutional investors.
Post IPO, valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies at Rs 64,365 crore.
It is being touted as the second-biggest since SBI Cards and Payment Services' Rs 10,341 crore issue in March 2020.
Here's all you need to know about the IPO:
* Price band has been fixed at Rs 72-76 per share by the company.
* It comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge (India).
* The IPO will have 75 per cent reservation for qualified institutional buyers (QIBs) and 15 per cent for non-institutional investors (NIIs).
* The remaining 10 per cent of the issue will be available for retail investors.
* Zomato will utilise the net proceeds from the fresh issue for funding organic and inorganic growth initiatives (Rs 6,750 crore) and general corporate purposes.
* In February, Zomato had raised $250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion (around Rs 40,000 crore).
(With inputs from agencies)
