Zomato Is Bringing IPO Of Shares Worth Less Than Rs 100

Zomato is bringing IPO of shares worth less than Rs 100, which will be launched on this date.

Online food delivery platform Zomato’s IPO will hit the market on July 14. With this, the company has announced to raise Rs 9,375 crore.

The company has fixed a price band of Rs 72-76 per share for each share. This IPO can be taken between July 14 and 16.

In April this year, Zomato had applied for an initial public offering with the Securities Exchange Board of India (Sebi).

Zomato, in its draft red herring prospectus (DRHP) filed with the market regulator, said it aims to raise Rs 8,250 crore in the capital by offering equity shares of the company for sale.

In the draft prospectus, the company had said that out of this Rs 7,500 crore would be issued afresh and the remaining Rs 750 crore would be an offer for sale to its existing investor Info Edge.

A day ago Paytm Money has introduced a new feature, in which users will be able to apply for IPO in advance even before it hits the market.

Paytm Money has started this feature with the IPO of food delivery platform Zomato.

According to Paytm Money, thousands of applicants have already applied for Zomato’s IPO through this platform in the last two days.

Along with this, digital payments startup One Mobikwik Systems has submitted preliminary documents to the Securities and Exchange Board of India (Sebi) to raise Rs 1,900 crore through IPO.

Under the IPO, fresh equity shares worth Rs 1,500 crore will be issued and the promoter and existing shareholders will bring an offer for sale (OFS) of Rs 400 crore.

On the other hand, Jana Small Finance Bank has got the approval of market regulator SEBI to raise funds through IPO.

As per the draft Red Herring Prospectus (GRHP), the IPO proposes to offer fresh equity shares of Rs 700 crore and the sale of 92,53,659 shares by existing shareholders.