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Zomato is planning to sell shares in price band of Rs 72-76 per share.Food delivery service provider - Zomato's share sale via initial public offering (IPO) will open for subscription from Wednesday, July 14 and end on July 16.
Zomato is planning to sell shares in price band of Rs 72-76 per share.
Investors can bid for Zomato shares in lot size of 195 shares and in multiples thereof.
At the upper end of price band one lot of Zomato shares in the IPO will cost Rs 14,820.
A retail investor can bid for a maximum of 13 lots.Zomato is planning to raise Rs 9,375 crore from the IPO which consists of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by its promoter Info Edge India.Zomato was incorporated in the year 2008.
Backed by China's Ant Group, Zomato is among the most prominent startups in the country today.
According to its official website, Zomato has a presence in 24 countries across the world and employs more than 5,000 people.Zomato, in its red herring prospectus, said that it intends to utilise the proceeds from IPO to fund organic and inorganic growth initiatives and for general corporate purposes.The Zomato IPO will be the second largest IPO in the last four years after the Rs 10,355 crore IPO from SBI Cards and Payment Services last year.
It will also be the first Indian mega startup to go public, with the likes of Paytm, Flipkart and Policybazaar likely to follow suitBank of America Merrill Lynch, Citigroup Global Markets India, Credit Suisse Securities (India), Kotak Mahindra Capital Company and Morgan Stanley India are the lead managers for Zomato IPO and Link Intime is the registrar of the issue.
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