Zomato IPO Price Band: Price Band Of Rs 72-76 Per Share

Zomato IPO Price Band: Keep the money ready, this big offer is opening on July 14, know what is the price of one share.

Food delivery platform Zomato on Thursday announced the price band for its Rs 9,375 crore Initial Public Offer (IPO). The company has fixed a price band of Rs 72-76 per share for each share.

This IPO can be subscribed from July 14, 2021. The last date to subscribe to this IPO is July 16.

This company, backed by China’s Ant Group, is one of the most prominent startups in India. The company applied for an IPO in late April.

Experts are expecting a good response to the company’s IPO as online orders have seen a significant increase during the pandemic.

It is the first food delivery company in India to go for public listing. This IPO will be closely watched by investors and analysts.

The head of Oyo Hotels had said on Wednesday that the upcoming IPOs would be closely watched by all.

It is noteworthy that SoftBank-backed hospitality company OYO is also considering public listing.

In India, the IPO market in 2021 saw a lot of strength. So far 22 companies have knocked in the IPO market.

The IPO market is seeing a lot of interest with foreign funds showing high interest and domestic investors showing enthusiasm once again after the lockdown.

New shares worth Rs 9,000 crore will be issued, according to documents seen by Reuters. At the same time, the company’s top shareholder Info Edge (India) will sell shares worth Rs 375 crore.

If seen from the upper price band, the market value of the company will reach around Rs 596.23 billion.

Zomato was started in 2008. The company’s main competition is from Accel-backed Swiggy and Amazon.

Morgan Stanley, Credit Suisse, and Citigroup are among the lead book-running managers of this IPO.