As per the current reports given today by Moneycontrol, it said that Zomato will be hitting its initial public offering next week. The IPO has valued at Rs 9,375 crore and is expected to open from July 14. It is said to be the second-largest IPO which is launched in the last 16 months after the SBI Card IPO, which stood at a valuation of Rs 10,355 crore in March 2020.
The Public Issue of IPO will comprise a public offer worth Rs 9,375 crore. This is broken down into a fresh issue that is valued at Rs 9,000 crore and an offer for sale worth Rs 375 crore with its current shareholder of Info Edge.
According to the report by Moneycontrol, the offer will open on July 14 and the bidding will be continued till July 16 as its closing issue date.
It also has the possibility of an anchor book opening, it will be one day prior to the public issue opening, the date of IPO listing will most likely to take place by July 27 according to Economic Times.
Investors can subscribe with a minimum bid of 195 equity shares or in multiples. The retail investors can bid for a capped number of 13 lots at the upper end of the price band of Rs 76 per equity share.
The objective of the issue of Zomato aims to use the net proceeds from the public issue to fund its organic and inorganic growth which is estimated to be around Rs 6,750 crore.
The Basis of Allotment for IPO will be seen in the finalization of the basic allotment which is most likely going to take commence by July 22.
In the Financial Year 2020, Zomato rose up to 105 percent. In Financial Year 2019 the cost only saw a rise of 47 percent. The food giant saw consolidated losses at the end of the financial year in March of 2020, which stood around Rs 2,385.6 crore.
As per the current report, the consolidated losses for Financial Year 2021 were Rs 816.43 crore against a revenue of Rs 1,993.78 crore. The down-trend in losses is credited to the impacts of the COVID-19 pandemic.
