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Zomato announces IPO dates and offer price for shares — Quartz India


A much-talked-about IPO by an Indian tech unicorn is finally all set to arrive.
Restaurant discovery and food delivery firm Zomato today (July 8) said it will launch its initial public offering (IPO) on July 14. The Gurugram-based company is looking to raise Rs9,375 crore through the IPO, where it will offer shares at a price between Rs72 and Rs76 apiece, it said in its press conference. Zomato’s IPO plan was approved by the Securities and Exchange Board of India on July 5.
“We will utilise the IPO proceedings for funding organic and inorganic growth initiatives, and for general corporate purposes,” Zomato’s chief financial officer Akshant Goyal said. ....

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Zomato files draft papers with Sebi for Rs 8,250-crore IPO


Online food ordering platform Zomato has filed draft papers with the Securities and Exchange Board of India (Sebi) for a Rs 8,250-crore initial public offering (IPO).
The share float comprises fresh issue of equity shares worth Rs 7,500 crore and offer for sale worth Rs 750 crore by Info Edge (India) Ltd. At present, Info Edge holds 18.55 per cent in Zomato, while the Alibaba group owns 16.53 per cent of the restaurant aggregator via Alipay and Antfin. On Tuesday, Info Edge had said that it will sell stake worth Rs 750 crore in the Zomato IPO.
Zomato’s much awaited IPO comes at a time the country is passing through a second wave of the Covid pandemic. This has led to a rise in demand for its services. In a note earlier this year, analysts at Bernstein had said that India’s food services market is large and expected to reach $74 billion by 2023-24. ....

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