Zomato all set for its IPO launch tomorrow
The three-day IPO is worth Rs 9,375 crore at a price band of Rs 72-76
Food delivery platform Zomato is all set for the launch of its IPO on July 14. According to media reports, IPO issuance is worth Rs 9,375 crore at a price band of Rs 72-76. The IPO will include sale of shares worth Rs 375 crore by existing investors.
A large part of the proceeds of Rs 6,745 crore, suggests a report, will be used to fund the company’s growth.
Zomato is reportedly eying a valuation of Rs 64,365 cr or $8.7 billion post money valuation.
The face value of each share will be Rs 5. The minimum bid size will be 195 equity shares.
The IPO, the first by a food tech company in India, will close on July 16.
Zomato has seen a lot of developments in the last one year. In May last year, the company elevated its then CEO Mohit Gupta as the fourth co-founder. Same month, Nishant Jain, who was then incharge of Sales & Hyper Growth, quit the company. Later in November that year, CMO Gaurav Verma too stepped down from his role.
