Online food delivery startup Zomato Limited and Zomato Media Private Limited to open its Initial Public Offering on July 14, 2021.
The Price Band of the Offer has been fixed at ₹72 to ₹76 per Equity Share. Bids can be made for a minimum of 195 Equity Shares and in multiples of 195 Equity Shares thereafter.
The company said it will be launching a grocery section on its app and has also confirmed $100 million investment in Grofers.
The IPO consists of fresh issue aggregating up to ₹ 90,000 million and an offer for sale of by Info Edge (India) Limited aggregating up to ₹3,750 million, Zomato said.
This offer includes a reservation of up to 6,500,000 equity shares for purchase by eligible employees, on a proportionate basis and such portion not exceeding 5% of the post-Offer Equity Share capital of the Company.
This Offer is being made in accordance with Regulation 6(2) of the SEBI ICDR Regulations and through a Book Building Process wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers.
The Company may, in consultation with the Selling Shareholder and the Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, out of which one-third shall be available for allocation to domestic Mutual Funds only, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price, Zomato added.
While rival company Swiggy has private labels, Zomato has no plans to enter into private-label brands.
