Read Zomato aims to raise Rs 8,250 crore from IPO: Check Listing Details Issue Price & Review and company data and Grey market price in Comments, Article Published in Initial public offering section on e akhabaar
Zomato the food delivery multinational firm has filed its Draft Red Herring Papers with market regulator Sebi. It’s time to enjoy the zomato IPO and the company released the Issue Size. According to the details, Zomato will raise Rs 8,250 (nearly $1.1 Billion). The company said in a statement that it will be a great opportunity for all the investors. SO let’s begin to explore this upcoming IPO with amazing facts and related details.
According to the firm, Sebi is likely to take about two weeks to review the DRHP and the final launch will depend on the market conditions, a source familiar with the development said.
The IPO action has been seen in the good form after when the company becomes a private to the public limited firm. The firm was originally incorporated as a private company on January 19, 2010.
The DRHP papers have been submitted earlier and currently under review. When SEBI reviewed the paper completely then Zomato will get the official launch date along with various details related to IPO.
In the Pre-IPO funding round, the food delivery firm has raised $250 million from popular investors such as Kora Management, Tiger Global, Fidelity, Dragoneer, and Bow Wave. Post this, Info Edge, one of Zomato’s earliest investors said its effective stake in Zomato is now 18.4 percent.
From the last year, 2023’s pandemic company suffered low profit and as we know food business got affected due to a lockdown and amid a surge of covid cases. Unfortunately, currently, the same situation is ongoing and the company facing very few orders these days. Along with dealing with the low number of orders company dealing with covid restrictions also.
So, the Zomato IPO will be open in the upcoming few days and our investors will welcome the most awaited IPO of this year. As per the ongoing covid surge and terrible situation, the company may delay the launch of IPO and it may take 20-30 days postponement until the situation becomes suitable for it. Now stock market also suffered from the bearish face of this financial year.
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