Zomato IPO date and price: Issue opening today, online restaurant aggregator eyeing whopping ₹9,375 cr fund raise
Zomato IPO date and price: Online restaurant aggregator and food delivery company Zomato IPO is set to open today , July 14. Zomato IPO is looking to raise as much as ₹9 ,375 crore through its initial public offering. Zomato IPO is the biggest in India this year and the second-biggest since SBI Cards and Payment Services' ₹10 ,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January. Zomato IPO is set to value the company at ₹64 ,365 crore (post-IPO). Word is that it will elicit a strong response from global institutional investors. Zomato IPO will be open for subscription till July 16.
Zomato has said it will utilise the net proceeds from the IPO for funding organic and inorganic growth initiatives ( ₹6 ,750 crore) and general corporate purposes. In February , Zomato had raised USD 250 million (over ₹1 ,800 crore) in funding from Tiger Global , Kora and others , valuing the online food ordering platform at USD 5.4 billion (around ₹40 ,000 crore). Check out the highlights of Zomato IPO below:
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1. Zomato price band: At ₹72-76 per share price band , Zomato aims to raise ₹9 ,375 crore through the offer.
2. Zomato valuation: Post IPO , valuation of Zomato will be more than the combined market capitalisation of five listed fast food and restaurant companies.
3. Fresh issue of Zomato shares: The Zomato IPO comprises a fresh issue of equity shares worth ₹9 ,000 crore and an offer-for-sale (OFS) worth ₹375 crore by existing investor Info Edge (India) , which is the parent company of Naukri.com , according to the information provided in the draft red herring prospectus.
4. Zomato IPO anchor book: Sources said the IPO has received a strong response from global institutional investors.
5. Zomato IPO reservation: There will be a 75 per cent reservation for qualified institutional buyers (QIBs) and 15 per cent for non-institutional investors (NIIs).
6. Zomato retail investor quota: 10 per cent of the issue will be available for retail investors.
7. Zomato revenue: In 2019-20 , revenue had jumped over two-fold to USD 394 million (around ₹2 ,960 crore) from the previous fiscal year , while its earnings before interest , taxes , depreciation and amortisation (EBITDA) loss was around ₹2 ,200 crore.
8. Zomato backing: The company is backed by Jack Ma's Ant Group Co.
9. Zomato IPO will be among the first from a long list of Indian unicorn startups to launch an IPO. It will also be the first among Indian online food aggregators.
10. Jubilant FoodWorks Market-cap: Jubilant is the master franchise for Domino's Pizza in India and it had a market capitalisation of ₹40 ,770.52 crore on Tuesday , according to BSE data.
11. Burger King India market-cap: It had a ₹6 ,659.88 crore m-cap.
12: Westlife Development market cap: This fast food restaurant holding company has m-cap of ₹8 ,380.89 crore
13. Barbeque-Nation Hospitality market cap: ₹3 ,375.48 crore
14. Speciality Restaurants market cap: ₹336.69 crore.