Food delivery company Zomato on Thursday said it plans to raise Rs 9,375 crore through its initial share a.k.a Zomato IPO sale that will open for subscription from July 14 to 16. The price band for the issue has been fixed at Rs 72 to 76 per share.
Last week Info Edge, which owns online classified recruiter Naukri.com, intimated exchanges that it had reduced its offer for sale size by half to Rs 375 crore in Zomato’s initial public offering, from Rs 750 crore earlier.
Earlier this week, Sebi cleared Zomato’s application for fundraising via IPO.
In February, the food delivery giant had raised $250 million in its pre-IPO primary fundraise, at a valuation of $5.4 billion from investors such as Kora Management, Tiger Global, Fidelity, Dragoneer, and Bow Wave.
In April this year, Zomato had filed the draft red herring prospectus (DRHP) with Sebi for its Rs 8,250-crore IPO comprising a fresh issue of Rs 7,500 crore and an offer for sale of Rs 750 crore by its existing investor Info Edge.
In the financial year ended March 31, 2020, the food delivery company reported a consolidated loss of Rs 2,385.6 crore against a loss of Rs 1,010.2 crore in the previous year, but revenue nearly doubled to Rs 2,604.7 crore from Rs 1,312.58 crore in the same period.
Consolidate loss for nine months period ended December 31, 2020, stood at Rs 682.2 crore on revenue of Rs 1,301.35 crore.
It is a watershed moment for the Indian markets—Zomato becomes the first major startup to get listed which will pave the way for many other such listings. Zomato is a technology-enabled food aggregator platform that connects customers, restaurant partners, and delivery partners, serving their multiple needs”, said Aditya Kondawar, COO, JST Investments
The shares of the company will be listed on BSE and NSE. — PTI
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