Zomato IPO To Open Tomorrow, At Rs 72-76 Per Share

The Zomato IPO will consist of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by the promoter Info Edge India

Zomato IPO To Open Tomorrow, At Rs 72-76 Per Share

Zomato IPO: Zomato has a presence in 24 countries across the world and employs more than 5,000 people

Zomato's Rs 9,375 crore initial public offering (IPO) will open for subscription tomorrow i.e. July 14 and will remain open for three days until July 16. The Zomato IPO will consist of a fresh issue of Rs 9,000 crore and an offer for sale of Rs 375 crore by the promoter, Info Edge India. The shares will be offered in the price band of Rs 72-76 per share and are likely to be listed on the bourses on July 27.

Investors can bid for a minimum one lot of 195 shares and in multiples thereof, extending up to a maximum of 13 lots. At the upper end of price band, one lot of Zomato shares will garner Rs 14,820.

Zomato will utilise the IPO proceeds to fund its organic and inorganic growth initiatives and for general corporate purposes.

Incorporated in 2008 and backed by China's Ant Group, Zomato is among the most prominent startups in the country today. Zomato has a presence in 24 countries across the world and employs more than 5,000 people.

The Zomato IPO will be the second largest IPO in the last four years after the Rs 10,355 crore IPO from SBI Cards and Payment Services last year. It will also be the first Indian mega startup to go public.

Bank of America Merrill Lynch, Citigroup Global Markets India, Credit Suisse Securities (India), Kotak Mahindra Capital Company and Morgan Stanley India are the lead managers for Zomato IPO, whereas Link Intime is the registrar of the issue.