Zomato's IPO To Open On July 14 , Know Price Band And Other Details

The date of the IPO of food delivery company Zomato has been confirmed. The company's IPO will open for subscription on July 14 and will close on July 16.

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The date of the IPO of food delivery company Zomato has been confirmed. The company's IPO will open for subscription on July 14 and will close on July 16. Zomato's IPO will have a primary sale of Rs 9,000 crore, with a share offer for sale of Rs 375 crore. That is, other shareholders in the company will be able to sell their shares. 

Zomato is an online restaurant aggregator. It delivers food and other items from the restaurant to the customers. It provides photos and reviews of restaurants and hotels. It undertakes promotional and marketing activities for restaurants. The company plans to raise Rs 9375 crore through the issue at a price band of Rs 72-76 per share. The issue offer includes Fresh Equity Shares and offer for Sale (OFS) by Info Edge, the parent company of Naukri.com. The company's investors include Info Edge, Ant Financials, and Uber. However, the company has no promoter. 

The company suffered heavy losses in the financial year 2021

Kotak Mahindra Capital Company, Morgan Stanley India Company Pvt Ltd, and Credit Suisse Securities (India) Pvt Ltd are the global coordinators and book running lead managers of the issue. Zomato's revenue in the first three quarters of FY 2021 was Rs 1,367 crore. The food-tech company's expenditure was around Rs 1,724 crore, resulting in a loss of Rs 684 crore.

Revenue growth in the financial year 2020 

Let us inform you that Zomato's revenue grew by 96% in FY 2020 from Rs 1,398 crore in FY 2019 and Rs 2,743 crore in FY 2020. Zomato has received at least 403 million online orders with a gross order value of Rs. 11,221 crore during the financial year 2020. Last year, Zomato provided delivery services in around 500 cities across India with over 2 lakh delivery partners.