According To Report, Zomato IPO May Hit The Market On July 19
- ByStartupStory | July 6, 2021
Zomato IPO may hit the market on July 19, at a price band of Rs 70-72 per share, according to a report in The Economic Times . The report further added, . The IPO size could also go up to Rs 9,375 crore with Rs 9,000 crore being fresh equity and shares worth Rs 375 crore from the company’s largest shareholder, InfoEdge. Meanwhile, the Securities and Exchange Board of India (SEBI) has given Zomato the go-ahead to raise Rs 8,250 crore through an initial share sale. The IPO comprises a fresh issue of equity shares worth Rs 7,500 crore and an offer-for-sale to the tune of Rs 750 crore by Info Edge (India) Ltd, according to the draft red herring prospectus.
Zomato, which filed preliminary IPO papers with Sebi in April, obtained its observation on July 2, an update with the regulator showed on Monday. Sebi’s observation is very necessary for any company to launch public issues like IPO, follow on public offer (FPO) and rights issue. Going by the draft papers, proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.
Follow Startup Story
Related Posts
