Zomato IPO: In February itself, Jomauto has raised $ 250 million (about Rs 1,800 crore) from veterans like Tiger Global and Cora.
Food delivery platform Zomato has submitted initial papers with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offering of Rs 8,250 crore.
While the new equity shares worth Rs 7,500 crore will be floated in this IPO, Info Edge – India will bring an offer for sale of Rs 750 crore, which has been reported by Zomato in the papers submitted to SEBI.
Where will the issue money be used?
The money raised from the fresh issue will be used by the company for growth and corporate work. In the last few years, the online food delivery market has seen a fast growth. At the same time, there is a fierce competition between Zomato and Swiggy in this business.
How is the company’s financial health?
Zomauto’s income doubled to around Rs 2960 crore in FY 2020, while EBITDA (income before interest, tax, debt repayment and depreciation) was Rs 2,200 crore.
In February itself, Zomato raised $ 250 million (about Rs 1,800 crore) from veterans like Tiger Global and Cora. After this funding, the valuation of the company has increased to $ 5.4 billion.
Merchant banker and book running lead manager for IPO
Kotak Mahindra Capital Company, Morgan Stanley India Company, Credit Suisse Book Running Lead Manager for the issue.
Bank of America Secured India Limited and Citigroup Global Markets India have been appointed merchant bankers for this public issue.
Zomato will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Last year, the company’s founder and CEO Dipendra Goyal told the employees that the company is preparing to launch an IPO in the first half of FY 2021.
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