Are you a food connoisseur who has eventually become a frequent meal buyer? Even if you aren’t, you must be familiar with ‘Zomato’. The widely used food delivery platform Zomato has recently been the talk of the investors and the market. Without a doubt, the reason is Zomato’s IPO subscription. The restaurant discovery company, like every other business, is expanding its services.
Zomato has been active for the past thirteen years. The company offers restaurant listings, food delivery, reviews and dine-out services to their customers. In addition to this, they have 3.5 lakh active restaurant listings that direct consumers to various small businesses. Similarly, their initiative – Hyperpure provides premium quality ingredients to these restaurants. Although it offers pan-India services in approximately 526 cities, it has established its international presence as well. Therefore, Zomato is active in 24 countries.
Zomato’s IPO Launch
First of all, what is IPO? To begin with, IPO stands for Initial Public Offering. You can think of IPO as a process in which a private corporation offers its shares to the general public. Interested people can look at Zomato’s IPO subscription. They are open from 14th July to 16th July.
The company has fixed the price band of IPO at Rs 72-76 per share. They have a face value of Rs 1 each. According to the data given by BSE, the food delivery platform got subscribed 4.79 times on the second day of the IPO launch. It is the largest IPO of 2021 in India.
What’s in the Zomato’s IPO? It consists of a new issue of equity shares with a value of Rs 9,000 crore. Moreover, it has an OFS (offer-for-sale) worth Rs 375 crore by Info Edge (India). The investor company Info Edge is also the parent company of Naukri.com. The restaurant discovery company’s target is to raise Rs 9,375 crore through the IPO.
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