Investors have been waiting for the IPO of online food delivery company Zomato for a long time. Now this wait is nearing its end. Zomato has applied to market regulator SEBI to raise Rs 8250 crore from the primary market through an IPO.
If the company is successful in bringing this IPO, then it will be the biggest IPO in the last one year after SBI Cards. According to the DRHP filed with SEBI, Zomato will issue a fresh share of Rs 7500 crore for this IPO. At the same time, Info Edge, one of the company’s initial investors, will issue equity shares worth Rs 750 crore through Offer for Sale.
10 specials of Zomato IPO
1. Zomato’s IPO of Rs 8250 crore will have a fresh share of 7500 crore, while Info Portal Ltd, the parent company of job portal Naukri.com, will sell for Rs 750 crore.
2. Zomato is also considering a private play summit of Rs 1500 crore before the IPO, so the company may reduce the size of the fresh issue.
3. Zomato includes investors such as Jack Ma’s Chinese company Ant Financial, Info Edge, Sekoya Capital, Uber. Info Edge holds an 18.4% stake in Zomato.
4. The company raised $ 250 million from investors such as Cora Management, Tiger Global, Fidelity, Dragoneer and Bow Wave before the IPO, raising the company’s valuation to over $ 5.4 billion, or Rs 40,000 crore.
5. Zomato will use the proceeds from the IPO to grow its business. Apart from this, the money will also be used for general corporate needs.
6. The company’s total revenue for the financial year ended 31 March 2020 was Rs 2486 crore, although the company has been in a loss during this period.
7. Zomato has appointed Kotak Mahindra Bank, Morgan Stanley, Citibank, Credit Suisse and Bank of America as its lead managers for this IPO.
8. Zomato started in 2008 under the name FoodieBay, then in 2010 it was renamed Zomato. The company employs more than 5000 people now.
9. Zomato serves its 24 countries. It has a spread in more than 10,000 cities worldwide.
10. The company has recently placed an additional 5 Independent Directors in its 8-member Board of Directors, which includes 4 women.
For social media updates, we need Facebook (https://www.facebook.com/moneycontrolhindi/) And Twitter (.).