Zomato IPO Opens Today

Zomato IPO Opens Today

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Zomato’s ₹ 9,375 crore initial public offering (IPO) opens for subscription today i.e. July 14. The restaurant aggregator and food delivery company’s public issue will remain open for three days, until July 16, and shares will be offered in the price band of ₹ 72-76 per share.

Retail applicants can bid for a minimum one lot of 195 shares and in multiples thereof, extending up to a maximum of 13 lots. Zomato will utilise the IPO proceeds to fund its organic and inorganic growth initiatives and for general corporate purposes. On the financial front, Zomato reported a loss of ₹ 2,363 crore in the financial year ended April 2020.

Zomato on Tuesday said that it has raised ₹4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 552.17 million equity shares, to anchor investors, at a price of ₹76 per share. Government of Singapore, BlackRock, Goldman Sachs, Abu Dhabi Investment Authority are some of the investors that participated in the anchor book.

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