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SEBI approved Zomato’s application for IPO | Zomato ipo release date July 06 2021Zomato IPO, Zomato ipo apply, Zomato ipo release d

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Zomato ipo release date | Zomato ipo apply | Zomato ipo listing date

The Securities and Exchange Board of India (SEBI) has approved Zomato''s application for an initial public offering (IPO), paving the way for one of the most eagerly awaited stock sales in modern history. Zomato IPO is expected to open on 19th July to 21st July and the price band is expected to be at Rs 70 per share.

Based on strong demand from global tech specialist funds and emerging funds, Zomato is aiming for a $8.7 billion IPO. The restaurant aggregator, which is sponsored by China Ant Group, has also increased its primary fund raise by 20% to $1.2 billion through the IPO and cut the secondary part, or Offer for Sale (OFS) by 50% to $50 million.

Zomato had filed a Draft Red Herring Prospectus (DRHP) in which it intended to bring equity shares worth up to Rs 7,875 crore (almost $1.1 billion). Rs 7,500 crore will be raised through a new issue, while Rs 375 crore would be raised through an offer for sale to current investor InfoEdge.

Kora Management, Tiger Global, Fidelity, Dragoneer, and Bow Wave were among the investors who contributed $250 million to Zomatos pre-IPO primary fundraise, which valued the company at $5.4 billion.

Following that, InfoEdge, one of Zomato''s early investors, reported an increase in its effective shareholding in the company to 18.4 percent. On July 4, InfoEdge announced that it is decreasing its stake in Zomato.

This was in addition to the $660 million primary round it raised in December 2020, with 10 new investors including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview, at a valuation of $3.9 billion.

Following the initial COVID-19 shock in March 2020, Zomato reported in September that the online food delivery space had recovered and even surpassed pre-pandemic levels in a lot of large pockets across India, as more individuals embraced online ordering.

The tailwinds for food delivery businesses are clearly obvious, according to Deepinder Goyal, Zomatos Co-founder and CEO, who expects the sector'' growth would accelerate post-mass vaccination. He also stated that the burn rate is quite low, and that the companys market share is growing in all regions.

Zomato recorded revenue of Rs 2,486 crore for FY20, despite losses of Rs 2,451 crore due to the pandemic, which reduced order volumes and dine-out revenue.

Goyal and Pankaj Chaddah founded the food delivery and restaurant aggregator platform Foodiebay in 2008, which was rebranded Zomato in 2010.

In the last two decades, just a few Internet companies have gone public in India. Apart from Zomato, Paytm, Policybazaar, Nykaa, and Delhivery are also preparing for a public offering, despite the hype surrounding the US listings of Flipkart and Freshworks.

Apply for Zomato IPO at Indira Securities

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