Zomato stock will debut tomorrow

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Zomato IPO: The food delivery startup has set the IPO price at Rs 76 per share

Zomato shares will debut on the stock exchanges tomorrow, which is July 23 instead of the scheduled July 27, a Zomato spokesperson told The US Express News. The food delivery startup has set the IPO price at Rs 76 per share, which is in the upper end of the price range of Rs 72-76. The shares will be listed on both the ESB and the NSE.

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Zomato’s Rs 9,375 crore offer received a tremendous response from the investment community. The IPO was subscribed 38.25 times; the portion reserved for qualified institutional buyers (QIB) was subscribed 51.79 times, non-institutional investors attracted 32.96 times the subscription and the retail segment, 7.45 times.

The offer from the restaurant aggregator and the food delivery company consisted of a new issue of Rs 9,000 crore and a sell offer of Rs 375 crore by the promoter, Info Edge India.

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The anchor book had also generated a strong reaction before the IPO. Zomato raised Rs 4,196.51 crore from 186 key investors including New World Fund Inc, American Funds, Tiger Global Investments Fund, BlackRock Global, Lansforsakringar Asienfond, JPMorgan, Morgan Stanley Investment Fund, T Rowe Price and Canada Pension Plan Investment Board, at a price of Rs 76 per share.

Zomato was incorporated in 2008. Supported by the Chinese group Ant, Zomato is today one of the most important startups in the country and is also present in 24 countries around the world.

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