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    Zomato's Rs 9,375 crore IPO to open on July 14

    Zomato's Rs 9,375 crore IPO to open on July 14

    Zomato's Rs 9,375 crore IPO to open on July 14
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    By CNBC-TV18  IST (Published)

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    The Rs 9,375 crore IPO comprises fresh issuance of equity shares worth up to 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by existing shareholders.

    Online food ordering platform Zomato on Wednesday said it will hit the capital markets on July 14, 2021.
    The Rs 9,375 crore IPO comprises fresh issuance of equity shares worth up to 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by existing shareholders.
    The primary market offering will close on July 16, 2021, and the shares will be listed on the bourses on July 27, 2021. Shares of the company will be listed on BSE and NSE.
    The finalised IPO allotment list will be announced on July 22, 2021, and the initiation of refunds will also start taking place on July 23, 2021.
    The online food delivery segment has seen significant growth in the last few years with Zomato and Swiggy competing head-on to grab market share.
    Zomato's FY20 revenue had jumped over two-fold to $394 million (around Rs 2,960 crore) from the previous fiscal, while its earnings before interest, taxes, depreciation and amortization (EBITDA) loss was around Rs 2,200 crore.
    In February, Zomato had raised $250 million (over Rs 1,800 crore) in funding from Tiger Global, Kora and others, valuing the online food ordering platform at $5.4 billion.
    Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and Credit Suisse Securities (India) Private Limited are the global coordinator and book running lead managers to the issue.
    BofA Securities India Limited and Citigroup Global Markets India Private Limited have been appointed as merchant bankers to the public issue.
    Last year, Zomato founder and CEO Deepinder Goyal had told employees that the company plans to go for an IPO in the first half of 2021.
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