Zomato,9000 Crores IPO opens Today

IPO representation

Zomato said the net proceeds from the new issue will be used to fund organic and inorganic growth initiatives and the company's overall goals.

Zomato will begin its three-day initial public offering (IPO) on Wednesday, July 14th. Zomato's initial public offering will be the largest in India this year and the company plans to raise  ₹9,375 crores through a public offering of 72-76 per share. According to the prospectus of Red Herring, Zomato's first offer includes a new issue of 9,000 crores and a sale of 375 crores of shares from existing investors.

According to Red Herring, Zomato's IPO includes   ₹9,000 crores reissue and ₹375crores of existing investor Info Edge (India), the parent company of Naukri.com. The Zomato IPO is offered to 75% Qualified Institutional Buyers (QIB), 15% Non-Institutional Investors (NII) and 10% Individual Investors.

Backed by Jack Ma's Ant Group Co, Zomato will be the first in a long list of Indian unicorn projectiles to be featured. It will also be India's first online food aggregator. The IPO will bring Zomato around ₹64,365 crores and will be the second-largest nomination after SBI Card and Payment Services announced ₹10,341 crores in March 2020. This will surpass the Indian Railways Finance Corporation's offer in January.

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