Zomato IPO opens today. All you need to know - Hindustan Times
close_game
close_game

Zomato IPO opens today. All you need to know

By | Written by Ayshee Bhaduri | Edited by Poulomi Ghosh, Hindustan Times, New Delhi
Jul 14, 2021 06:50 AM IST

Post-IPO, the valuation of Zomato is expected to be more than the combined market capitalisation of five listed fast food and restaurant companies

Restaurant aggregator and food delivery platform Zomato’s Initial Public Offering (IPO) worth 9,375, India’s biggest IPO this year, will be opening today. It will be open for subscription till July 16. At 72-76 per share price band, the company is looking to raise 9,375 crore through the offer.

The Zomato IPO will open for subscription between July 14 to July 16(Satyabrata Tripathy/HT Photo)
The Zomato IPO will open for subscription between July 14 to July 16(Satyabrata Tripathy/HT Photo)

Zomato’s IPO comprises a fresh issue of equity shares worth 9,000 crore and an offer-for-sale (OFS) worth 375 crore by existing investor Info Edge (India), the parent company of Naukri.com, according to the draft red herring prospectus. The company which is backed by Jack Ma’s Ant group is the first Indian unicorn and food delivery platform to launch an IPO.

Hindustan Times - your fastest source for breaking news! Read now.

An IPO entails listing a company at the stock markets, offering the public and money managers an opportunity to participate in that company as a shareholder. This IPO is expected to bring Zomato’s valuation to a whooping 64,365 crore, and has created quite the buzz. “Zomato as a brand has been very popular amongst the younger audience and with the Covid situation it has caught up with the middle-aged and senior citizens as well,” Amit Khurana, Head of Equities, Dolat Capital Market told Hindustan Times.

Also Read: Zomato IPO: Why is there so much buzz and should you invest?

Post-IPO, the valuation of Zomato is expected to be more than the combined market capitalisation of five listed fast food and restaurant companies-Jubilant FoodWorks Ltd, Burger King India Ltd, Westlife Development Ltd, Barbeque-Nation Hospitality, and Speciality Restaurants.

The Zomato IPO will open for subscription between July 14 to July 16 and the company is looking to finalise the IPO share allotment around July 22. The funds will be refunded or unblocked from the Application Supported by Blocked Amount (ASBA) account around July 23, 2021.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On