Business
Another opportunity to earn, Zomato’s IPO may come on July 19, know how much the price band can be?
Markets regulator SEBI (SEBI) has given a green signal to Zomato’s IPO only last week. Zomato is expecting a listing valuation of $8.7 billion…
If you are also planning to invest money in the market this month, then you can get a special opportunity soon, through which you can earn big profits (Earn Money from IPO). Online food delivery app Zomato can bring its IPO this month. Markets regulator SEBI (SEBI) has given a green signal to Zomato’s IPO only last week. Zomato is expecting a listing valuation of $8.7 billion.
According to the news of Economic Times, the company’s IPO is likely to open for subscription on July 19 and it may continue till July 22. Let us tell you that July 21 will be a holiday. The share price in IPO can be in a band of Rs 70-72 per share.
May remain open from July 19 to 22
According to the news quoting sources, “The issue of Zomato has been planned from July 19 to 22 as the market is closed for Bakrid on July 21.” The offer will be a combination of a fresh issue (Rs 9,000 crore) and an offer for sale (Rs 375 crore) from Info Edge, one of the largest shareholders of the company.
Let us tell you that the company has increased the fresh issue for this IPO to $ 1.2 billion. At the same time, the offer for sale portion has been reduced by 50 percent to $ 50 billion. According to the draft red herring prospectus (DRHP) issued by Zomato, the company will issue an issue to raise Rs 7875 crore. Out of this, Rs 7500 crore will be a fresh issue, the remaining Rs 375 crore will be sold by existing investor Infoage.
The company reduced the offer for sale
The company’s largest stakeholder Infoage has reduced the offer for sale too half. The company was earlier going to bring an offer for the sale of Rs 750 crore in the issue of Zomato. However, now the company has reduced it to Rs 375 crore.
How much was the profit of the company
Zomato’s IPO FY20 revenue was Rs 2,486 crore. Due to Corona, the loss increased to Rs 2,451 crore. The food delivery and restaurant aggregator platform was founded by Goyal and Pankaj Chadha in 2008 as Foodibay and was renamed Zomato on 18 January 2010.