INSUBCONTINENT EXCLUSIVE:
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.
