Zomato will launch its IPO on 14 July, with a monetary value of Rs 9,375 crore, making it the second-biggest IPO since SBI Cards and Payment Services’ Rs 10,341 crore issue in March 2020. The IPO will close on Friday, July 16. The price band for the Zomato IPO has been determined and fixed at Rs 72-76.
Investors will be able to subscribe to the initial public offering (IPO) by betting for a lot of either 195 shares or in multiples of 195. Meanwhile, investors from the retail sector can bid for a maximum amount of 13 lots at the upper bound of the price band. The issue of the Zomato IPO comprises of fresh issuance of shares, with a total value of up to Rs 9,000 crore, and an offer for sale of up to Rs 375 crore made by any existing shareholders.
The quota that is reserved for retail investors in the Zomato IPO is fixed at 10 per cent of the net offer. QIB quota is stated to be fixed at 75 per cent and 15 per cent is reserved for NIIs. There is also an employee quota of 65 lakh equity shares. Any interested people can use Zerodha to apply for the Zomato IPO by clicking on the link here.
While no definitive dates have been given, the finalisation of the basis of allotment is likely to occur by 22 July and the initialisation of refunds is will most probably happen by 23 July Meanwhile, the credit of shares to Demat accounts is should be done by 26 July. Meanwhile, the IPO listing will most likely be known by 27 July.
Those who are planning to bid for an issue will eventually be able to check the subscription status on the online portal of Link Intime India Private, which is the registrar to the IPO.
Zomato will not have any listed peers, and the IPO from the online dining service will be one of the first IPOs from the list of unicorn startups in India and the first from an online food aggregator. The IPO is estimated to value the company at approximately $9 billion.