According to a report released by News18, Zomato is all set to hit the market on Wednesday with its initial public offering worth ₹9,375 crores. After the State Bank of India Cards and Payments Services IPO worth ₹10,341 crores which were issued in March 2020, this has been the largest IPO since then.
As per the stock exchange filing, from 186 anchor investors instead of 55,21,73,505 equity shares at ₹76 each, Zomato has raised over ₹4,196 crores ahead of the initial public offering.
All you need to know:
1) By existing selling shareholder Info Edge, along with an offer for sale of ₹375 crores, Zomato’s initial public offer consists of fresh issuance of equity shares of ₹9,000 crores.
2) At ₹72-76 per equity share, the price band for Zomato’s initial public offering has been fixed.
3) For subscriptions, the initial public offer shall open on 14th July and the bidding will close on 16th July.
4) A bid for a minimum of 195 equity shares and multiples of 195 equity shares thereafter could be made by the investors. For a minimum of ₹14,820 worth of shares, the retail investors can apply. A maximum of ₹1,92,660 shares can be booked by an investor at a higher price band of ₹76 per equity share.
5) At 10% of the net offer the quota for retail investors Zomato’s initial public offering is fixed. For the Qualified Institutional Buyers quota, at least 75% has been reserved while 15% is fixed for NIIs.
6) By 27th July the popular food aggregator is likely to be listed on the bourses. By 22nd July the finalization of the basis of allotment is likely to be done, while the refund shall be initiated by 23rd July.
7) The issue shall be managed by BofA Securities and Citigroup Global Markets India, While Link Intime India is the registrar of the issue.
