Zomato IPO to open for subscription on 14 July; listing expected on 26 July

Indian food delivery company Zomato has announced its initial public offering (IPO). The company is planning to raise Rs 9,375 crore through its IPO. It comprises an offer for sale (OFS) by Info Edge (India) Ltd worth Rs 375 crore and fresh equity shares worth Rs 9,000 crore. Info Edge has reduced the offer size to half from Rs 750 crore to Rs 375 crore. The Securities and Exchange Board of India (SEBI) had approved Zomato’s application for raising funds via IPO earlier this month. Here are some of the important details about the Zomato IPO:

• It is going to open for subscription on 14 July and will close on 16 July.
• Before the issue opens on 14 July, the anchor book, if any, is going to open on 13 July.
• For the IPO, the price band has been fixed at Rs 72 to Rs 76 per equity share.
• Bidders can apply for a minimum of 195 equity shares. Thereafter, they can apply in the multiples of 195 shares.
• After SBI Card IPO worth Rs 10,355 crore, Zomato IPO has become the largest IPO
• Up to 65 lakh equity shares of the Zomato IPO are reserved for its employees.
• It is expected that the equity shares are going to be listed on the bourses sometime around 26 July.
• In its primary fundraise in February this year, Zomato raised USD 250 million with a valuation of USD 5.4 billion from investors including Tiger Global, Bow Wave, Kora Management, Fidelity and Dragoneer.
• Out of the total offer, 75 percent is reserved for qualified institutional buyers while retail investors have up to 10 percent for them. The company has reserved 15 percent for non-institutional buyers.