Tuesday, November 30, 2021
BusinessZomato's Rs 9,375 cr IPO to open on July 14

Zomato’s Rs 9,375 cr IPO to open on July 14

Published: 8th Jul 2021 7:15 pm

New Delhi: Ant Group-backed food ordering platform Zomato on Thursday said it plans to raise Rs 9,375 crore through its initial share sale that will open for subscription from July 14 to 16. The price band for the issue has been fixed at Rs 72 to 76 per share.

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The total IPO size is Rs 9,375 crore, comprising a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by Info Edge (India) Ltd, Zomato said.

Asked about the valuation of the company post IPO, Zomato CFO Akshant Goyal told PTI that based on a fully-diluted basis, it will be Rs 64,365 crore.

Earlier this week, Zomato had received markets regulator Sebi’s go-ahead for the initial public offer (IPO). Going by the draft papers, proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives and general corporate purposes.

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