• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

SEBI grants approval to Zomato’s blockbuster IPO

by Balraj
July 6, 2021
in Business, India News, News, Startups
Reading Time: 2 mins read
0
Illustration: Delivery Guy on Two Wheeler Vehicle with Zomato Logo

Image Source: NewsBytes

TwitterWhatsappLinkedin

Zomato, a food delivery startup has received approval from the Securities and Exchange Board of India (SEBI) to initiate its Rs 7,875-crore initial public offering (IPO). According to insiders in the investment banking industry, the unicorn startup might hit the market as soon as this month. Zomato is expected to go public on stock exchanges price range of Rs  70 – Rs 72 per share, making it the second-largest IPO over the last four years following SBI Cards.

You might also like

Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

Illustration: Delivery Guy on Two Wheeler Vehicle with Zomato Logo
Image Source: NewsBytes

Zomato’s Draft Red Herring Prospectus (DRHP) has received a final observation letter, according to the SEBI website’s processing status. Securing a final observation letter is comparable to receiving approval to proceed with the IPO. At an estimated valuation of Rs 56,240 Cr or $7.6 Bn, Zomato plans to raise Rs. 7,875 crore from the stock market. InfoEdge, an existing investor with an 18% stake in the company, will also liquidate Rs. 375 crore of its shares. The company, on the other hand, has the option of raising Rs 1,500 crore through a pre-IPO placement. This might significantly lower the amount of a possible IPO.

The price of Zomato per share in the last round of funding was Rs 55-60, at an estimate of INR 40,000 Cr, or just over $ 5,4 billion. On 28 April Zomato filed its DRHP and declared that, in the face of the pandemic, it has been improving its financial status.

Zomato has Rs 4,967 crore in cash and cash equivalents at the end of the nine months ending December 2020. Tiger Global, Kora, and others helped the company raise Rs 1,800 crore earlier this year. The unicorn startup is also backed by Chinese billionaire Jack Ma’s Ant Group. Following the IPO, the company’s cash reserves will increase by Rs 7,500 crore, bringing the total to more than Rs 14,000 crore. Zomato will receive significant financial backing in order to capitalize on India’s fast-growing food delivery market, according to some analysts.

Last week, SEBI sent observation letters to Zomato, Chemplast Sanmar, and Tatva Chintan Pharma, according to the processing status of the draft red herring prospectus (DRHP) filed on the regulator’s website. According to investment bankers, receiving a final observation letter is equivalent to receiving approval to launch the IPO. Around 20 other DRHPs have been filed with SEBI and are in different stages of approval.

In the past two decades, only a few Internet companies have listed public in India’s stock market. Apart from Zomato, Paytm, Policybazaar, Nykaa, and Delhivery are also preparing for a public offering, despite the hype encircling the US listings of Flipkart and Freshworks. The performance of these IPOs will be a benchmark of India’s expanding startup economy and can lead to more inflows of funds to private markets.

Tags: DRHPFood delivery startupIPOpaytmpolicybazaarSBI CardsSEBITiger Globalzomato
Tweet54SendShare15
Previous Post

Apple iPhone 14 to feature 120HZ Display & Mini series to be discontinued, says report

Next Post

Volvo, Daimler and Traton’s JV to install charging network for electric trucks

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

by Samir Gautam
May 18, 2025
0
Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

Antonio Filosa, the executive currently leading Stellantis’ U.S. operations, has emerged as the top contender to succeed outgoing CEO Carlos Tavares, according to reports from Bloomberg. As Stellantis...

Read more

VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

by Rounak Majumdar
May 18, 2025
0
VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

The parent firm of well-known content sites Dailyhunt and Josh, VerSe Innovation, has announced a major layoff, laying off about 350 employees this month. Since the company's last...

Read more

Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

by Rounak Majumdar
May 18, 2025
0
Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

In May 2025, India's national security environment changed drastically after the disastrous Pahalgam terror strike in Jammu and Kashmir, which left 26 people dead. The Indian government responded...

Read more
Next Post
Volvo, Daimler and Traton’s JV to install charging network for electric trucks

Volvo, Daimler and Traton's JV to install charging network for electric trucks

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?