The IPO of food-tech unicorn Zomato is set to open for subscription today and will close on July 16. The company is offering shares with a face value of Re one in the price band of Rs 72–Rs 76 each to raise a total of Rs 9,375 crore.
The bid can be placed with a minimum of one lot, which consists of 195 shares. The shares will be listed tentatively on July 27, 2021.
According to Zomato’s red herring prospectus, the issue will consist of fresh equity worth Rs 9,000 crore and an offer for sale (OFS) of Rs 375 crore from its promoter Info Edge. The company has also set aside approximately 6.5 million shares for its employees.
Broking firms like Upstox, Zerodha, among others offer the option of investing in IPOs through their platform.
Here are the steps to invest in an IPO via Upstox:
Step 1: Login to the Upstox application or website with your credentials.
Step 2: Select the IPO that you want to invest in and create an IPO application.
Step 3: Add up to 3 bids within the price range.
Step 4: Confirm your application.
Step 5: Accept the UPI mandate and block funds on your mobile UPI app.
Here are the steps to invest in Zomati IPO via Zerodha’s Kite application:
Step 1: Login to the mobile app and select the IPO option under the console.
Step 2: Select the IPO you want to invest in.
Step 3: Enter your UPI ID from the BHIM app
Step 4: Select investor type for your application and enter the lot size announced by the company.
Step 5: Tick on the cut-off price for more chances of allotment of shares.
Step 6: Confirm and submit. Accept the mandate request for proceeding with IPO on your BHIM UPI app.
Additionally, digital brokerage platform Paytm Money is now letting users apply for Initial Public Offerings (IPO) before the actual IPO Opening in the markets. Zomato’s IPO is the first to be launched on Paytm Money with this feature and the platform has already received thousands of orders over the last two days.
This new feature allows users to place orders for IPOs throughout the week. The order placed will be recorded in the company’s system and will be sent across to the stock exchange for processing whenever the IPO opens and the users will be notified about the application process throughout the journey.
First Published: IST