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Zomato IPO to open on this date; check price band, lot size
Being the first food delivery company to pursue a public listing in India, the IPO is expected to see strong demand.
Updated : Jul 08, 2021, 04:32 PM IST | Edited by : Abhishek Sharma
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Food delivery platform Zomato on Thursday said that it plans to raise up to Rs 9,000 crore through its initial public offering (IPO) that will be open for subscription from July 14 to 16. The issue price will be kept between Rs 72 to Rs 76 per share.
In a statement, the company said that bids can be made for a minimum of 195 equity shares and in multiples of 195 equity shares thereafter. The offer includes a reservation of up to 65 lakh equity shares for purchase by eligible employees.
Besides, not more than 15 per cent of the offer will be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the offer will be available for allocation to retail individuals.
Kotak Mahindra Capital, Morgan Stanley India and Credit Suisse Securities India are global coordinators and book running lead managers to the issue. BofA Securities India and Citigroup Global Markets India are the book running lead managers to the offer.
For IPOs in India, 2021 has been a strong year with 22 companies debuting so far. A flush of money from foreign funds and mom-and-pop investors putting their money saved during the lockdown to work have driven the surge.
Being the first food delivery company to pursue a public listing in India, the IPO will be closely watched by investors and is expected to see strong demand.
The company was launched in 2008 and competes with rivals such as Accel-backed Swiggy and Amazon.
