Zomato IPO: Food delivery company Zomato’s IPO will open today. During this, Zomato’s goal will be to raise a huge amount of 9 thousand 375 crores through this IPO issue. In the company’s IPO, a primary sale of Rs 9 thousand crore will be listed while the share offer for sale of Rs 375 crore will be available. Under the share offer for sale, other shareholders will be able to sell their shares in the company. The company will close its IPO subscription on July 16.
The company has suffered a huge loss in the financial year 2021, after which it decided to bring a public issue for debt payment and other needs. For this, Zomato had applied to the market regulator SEBI. After the approval from SEBI, the company chose July 14 i.e. today to launch its IPO and two days after that i.e. on July 16, its subscription will be closed.
The price per share of Zomato will be Rs 72 to 76
According to the exchange filing, the price per share for investment in Zomato’s IPO has been fixed at Rs 72 to 76. 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.
In this one lot of 195 shares will be available. According to the company, a retail investor can apply for a maximum of 13 lots. Explain that as per SEBI rules, an investor cannot invest more than Rs 2 lakh.
The company has suffered huge losses in the financial year 2021
Let us tell you that in the first three quarters of FY 2021, Zomato’s revenue 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.