Online food delivery platform Zomato opened an initial public offering (IPO) of Rs 9,375 crore at 10 am on Wednesday. The IPO will close on July 16. It was fully subscribed within 75 minutes of opening. In this IPO, a 10 percent quota was kept for retail investors. According to the data of BSE and NSE, it has received twice as many bids in the retail category at 1.30 pm.
The price band is Rs 72 to 76
The price band of Zomato IPO has been kept at Rs 72-76 per share of the face value of Rs 1 each and the company aims to raise Rs 9,375 crore from the IPO. In this IPO, fresh shares worth Rs 9,000 crore will be issued while Info Edge will sell shares worth Rs 375 crore.
Jack Ma's Ant Group supports the company
The organization is upheld by Jack Ma's Ant Group organization. Zomato is the first organization in Quite a while's extensive rundown of unicorn new businesses to IPO. It is the first online food aggregator to dispatch an IPO. In view of its IPO, the valuation of Zomato comes to Rs 64,365 crore. It is considered to be the second-most noteworthy IPO after SBI Cards and Payment Services (Rs 10,341 crore) which came in March 2020. This will overwhelm the Indian Railway Finance Corporation's (IRFC) IPO in January.
These investors include several foreign investors like BlackRock, Tiger Global, Fidelity, Newworld Fund, JP Morgan, Morgan Stanley Asia, Pte-ODI, Goldman Sachs (Singapore), TRO, Canada Pension Fund, Singapore Monetary Authority, and Abu Dhabi Investment Authority. . In addition, they have a long list of domestic institutional investors.
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