Latest updates on Zomato IPO opening date, per share price, and more: Zomato announces the price band for its IPO will be₹72-76 per share. The Indian food delivery giant expects to raise ₹9,375 crores ($1.3 billion) through the offer.
Indian food delivery company Zomato launches its IPO on 14 July, 2021. The company also clears that IPO will be fixed at ₹72-76 a share (97 cents to $1.02). Through the Zomato IPO, the delivery giant has been eyeing to achieve at least ₹9,375 crores.
✅Zomato IPO is one of the most awaited IPO events in this financial year. The IPO will hit Dalal street on 14 July 2021. The company aims for an issue size of ₹9,375.00 Crore through this IPO.@zomato#zomatoipo #Zomato #investing #stocks #StockMarket #dalal #sharemarket pic.twitter.com/CVhUJ1JqVU
— StockPro_Official (@StockProOnline) July 8, 2021
The initial public offering, popularly known as IPO, will be available for three days (till 16 July).
What Does ₹9,375 Crore Mean
— News18.com (@news18dotcom) July 14, 2021
The Zomato IPO comprises new company share price and offer for sale. As per reports, the shares will be worth ₹9,000. For ₹375, the company has an offer for sale (OFS) by Naukri.com’s parent company investor Info Edge (India).
In a report, Zomato announced that as of 13 July, it successfully raised more than ₹4,100 from its 186 anchor investors, which includes names like Tiger Global Investment Fund, Morgan Stanley, Government of Singapore, Axis Mutual Fund, SBI Mutual Fund, Tata Mutual Fund, Franklin Templeton, Goldman Sachs India, and others.
What Does the Zomato IPO Listing Mean
Founded in 2008 by Deepinder Goyal, Zomato has grown to become one of the most successful startups in India. Today, the food giant has more than 5,000 employees and services in multiple other countries, including Sri Lanka, South Africa, and dozens of others.
Since its launch, Zomato has remained in the news (most of the time for good reasons). In 2020, it acquired UberEats, which allowed the Zomato market to expand throughout the nation. As a part of the deal, the California-headquartered Uber got a 10% stake in Zomato.
The Zomato IPO is expected to open doors for other Zomato-like companies to go public. According to some sources, Flipkart, a Walmart-owned Indian company at a valuation of over $1 billion, is also considering a public offering.
According to reports, Flipkart raised around $3.6 billion earlier in the latest round of funding. Its investors include names like Walmart (WMT), GIC, SoftBank’s Vision Fund 2, and many more. Currently, the eCommerce giant is valued at $38 billion.
Apart from that, experts also believe that the Zomato IPO will also serve as an example for food delivery companies worldwide. In the past, Deliveroo IPO in London fell flat despite impressive fanfare, resulting in London’s worst debut.
What Did Zomato Founded Say
It seems that the Zomato IPO made Mr. Goyal really nervous. Although he didn’t make a public appearance or said anything on record, he posted a series of tweets from his official account.
Latest Zomato News
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