Zomato IPO: Indian food delivery startup is raising $1.3 billion in major public offering in Mumbai CNN 14 hrs ago By Diksha Madhok, CNN Business © Indranil Mukherjee/AFP/Getty Images A deliveryman working for Zomato, an online food delivery application, rides a motorbike along a street in Mumbai on July 8, 2021. - Indian food delivery giant Zomato announced plans on July 8 to raise 93.75 billion rupees ($1.3 billion) via an initial public offering, the latest firm to take advantage of a strong rally in local equities. (Photo by INDRANIL MUKHERJEE / AFP) (Photo by INDRANIL MUKHERJEE/AFP via Getty Images)
India s biggest tech IPO is here.
Zomato Raises Rs 4,196 Crore From Key Investors Ahead Of Its first public offering (IPO)
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Zomato raises ₹4,196 crore from anchor investors ahead of IPO
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Zomato IPO opens today: Valuations for such firms discount futuristic growth, say analysts
Food delivery company Zomato Ltd. (Zomato) - a food delivery company, is planning to raise up to Rs 9,375 crore through an IPO, which opens today (July 14). It closes on July 16, 2021. The price band is in the range of Rs.72-76 equity shares. The total issue size is aggregating up to Rs 9,350 crore which comprises fresh issue of equity shares aggregating up to Rs 9,000 crore and Offer for sale of equity shares aggregating up to Rs 350 crore. The shares will be listed on BSE and NSE.
Arun Malhotra, Founder & CIO, CapGrow Capital Advisors (SEBI Registered PMS), said, Zomato is an excellent, consumer centric, non-linear digital business model that will have huge operating leverage. Profitability is always a challenge in initial years for such companies, but only one player survives, and gets the majority share of both revenues and profitability. Valuations for such companies discount the futuris